Telenor ASA (OTCMKTS:TELNY) Short Interest Down 29.9% in August

Key Points

• Telenor ASA experienced a significant decrease in short interest, with a 29.9% drop to 5,400 shares as of August 15th, compared to 7,700 shares at the end of July.
• The company's latest quarterly earnings reported an EPS of $0.21, falling short of the $0.22 consensus estimate, while its revenue for the quarter was $1.97 billion against an expectation of $20.02 billion.
• Analysts have downgraded Telenor ASA's rating from "strong-buy" to "hold," indicating a more cautious outlook on the stock, with an average rating of "Reduce" as per MarketBeat.com.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) saw a significant decline in short interest in the month of August. As of August 15th, there was short interest totaling 5,400 shares, a decline of 29.9% from the July 31st total of 7,700 shares. Based on an average daily trading volume, of 23,300 shares, the short-interest ratio is presently 0.2 days. Based on an average daily trading volume, of 23,300 shares, the short-interest ratio is presently 0.2 days.

Telenor ASA Stock Up 0.3%

Shares of TELNY stock traded up $0.06 during trading hours on Wednesday, hitting $16.97. 2,607 shares of the company were exchanged, compared to its average volume of 30,358. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.42 and a current ratio of 0.44. The stock has a market capitalization of $23.21 billion, a price-to-earnings ratio of 22.93 and a beta of 0.42. Telenor ASA has a one year low of $10.55 and a one year high of $17.03. The business's 50-day simple moving average is $15.97 and its two-hundred day simple moving average is $15.01.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The utilities provider reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.01). The firm had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $20.02 billion. Telenor ASA had a net margin of 13.67% and a return on equity of 14.56%. Sell-side analysts predict that Telenor ASA will post 0.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TELNY. Berenberg Bank cut shares of Telenor ASA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. New Street Research downgraded shares of Telenor ASA from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 8th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Reduce".

About Telenor ASA

Telenor ASA, together with its subsidiaries, operates as a telecommunication company worldwide. It operates through four segments: Nordics, Asia, Infrastructure, and Amp. The company offers mobile subscriptions and handsets, telephony, broadband, data security, communications services, and TV services to residential and business customers, as well as wholesale services.