Telenor ASA (OTCMKTS:TELNY) Short Interest Update

Key Points

• Telenor ASA experienced a significant decline in short interest, dropping 38.0% to 4,900 shares as of September 15th, based on an average trading volume of 20,100 shares.
• Multiple research firms have downgraded Telenor ASA's rating from "strong-buy" to "hold," resulting in an average rating of "Reduce" among analysts.
• The company's recent quarterly earnings report revealed earnings per share of $0.21, missing estimates, with reported revenue of $1.97 billion against a consensus of $20.02 billion.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 4,900 shares, a decline of 38.0% from the August 31st total of 7,900 shares. Based on an average trading volume of 20,100 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 20,100 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TELNY. Berenberg Bank lowered shares of Telenor ASA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Zacks Research downgraded Telenor ASA from a "strong-buy" rating to a "hold" rating in a report on Friday, September 12th. Finally, New Street Research cut shares of Telenor ASA from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 8th. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Telenor ASA currently has an average rating of "Reduce".

Telenor ASA Stock Performance

OTCMKTS TELNY traded up $0.19 during trading hours on Friday, hitting $16.60. The company's stock had a trading volume of 7,763 shares, compared to its average volume of 14,412. Telenor ASA has a 12 month low of $10.55 and a 12 month high of $17.32. The company has a market cap of $22.71 billion, a P/E ratio of 22.43 and a beta of 0.44. The company's 50 day simple moving average is $16.37 and its two-hundred day simple moving average is $15.41. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.44 and a quick ratio of 0.42.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last posted its quarterly earnings data 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 for 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%. As a group, sell-side analysts expect that Telenor ASA will post 0.79 EPS for the current fiscal year.

Telenor ASA Company Profile

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.

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