Telenor ASA (OTCMKTS:TELNY) Short Interest Update

Key Points

• Telenor ASA experienced a significant increase in short interest, rising by 46.3% from 5,400 shares to 7,900 shares in August, yet only 0.0%% of its shares are currently short sold.
• Several research firms have downgraded Telenor ASA's stock rating from strong-buy to hold, with a consensus rating now listed as "Reduce".
• The company's latest earnings report showed a net income of $0.21 EPS, missing the consensus estimate of $0.22, with revenues significantly below expectations at $1.97 billion.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totaling 7,900 shares, an increase of 46.3% from the August 15th total of 5,400 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 24,200 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 24,200 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.0% of the shares of the stock are short sold.

Telenor ASA Trading Down 0.2%

TELNY traded down $0.04 during trading on Friday, hitting $16.66. The company's stock had a trading volume of 25,330 shares, compared to its average volume of 10,882. Telenor ASA has a twelve month low of $10.55 and a twelve month high of $17.32. The company has a quick ratio of 0.42, a current ratio of 0.44 and a debt-to-equity ratio of 1.02. The stock's fifty day moving average price is $16.19 and its 200-day moving average price is $15.19. The firm has a market capitalization of $22.79 billion, a P/E ratio of 22.51 and a beta of 0.42.

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 (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). Telenor ASA had a net margin of 13.67% and a return on equity of 14.56%. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $20.02 billion. Analysts anticipate that Telenor ASA will post 0.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TELNY shares. Berenberg Bank cut Telenor ASA from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. New Street Research cut Telenor ASA from a "strong-buy" rating to a "hold" rating in a report on Friday, August 8th. Finally, Zacks Research cut Telenor ASA from a "strong-buy" rating to a "hold" rating in a report on Friday, September 12th. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average 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.