Telenor ASA (OTCMKTS:TELNY) Short Interest Update

Key Points

• Short interest surged sharply in Telenor ASA during June, rising 605.8% to 87,834 shares as of June 30 from 12,444 shares on June 15. Even so, short interest remains low relative to trading volume, with a short-interest ratio of 0.6 days.
• The stock edged lower on Friday, falling 0.7% to $14.80. It is trading below both its 50-day moving average of $15.83 and 200-day moving average of $16.43.
• Analyst sentiment has weakened, with multiple recent downgrades from firms including Citigroup, Barclays, Zacks Research, and Pareto Securities. MarketBeat says the stock now carries an average rating of “Reduce.”

Telenor ASA (OTCMKTS:TELNY - Get Free Report) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 87,834 shares, a growth of 605.8% from the June 15th total of 12,444 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 150,411 shares, the short-interest ratio is presently 0.6 days.

Telenor ASA Trading Down 0.7%

Shares of TELNY traded down $0.11 during trading hours on Friday, reaching $14.80. 55,211 shares of the company traded hands, compared to its average volume of 69,185. The stock's fifty day moving average price is $15.83 and its 200 day moving average price is $16.43. The company has a current ratio of 0.71, a quick ratio of 0.69 and a debt-to-equity ratio of 0.98. The firm has a market cap of $20.25 billion, a price-to-earnings ratio of 14.23 and a beta of 0.31. Telenor ASA has a 12-month low of $13.79 and a 12-month high of $18.92.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. Telenor ASA had a net margin of 18.28% and a return on equity of 16.31%. Sell-side analysts forecast that Telenor ASA will post 0.93 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on TELNY. Citigroup downgraded Telenor ASA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 7th. Barclays cut Telenor ASA from an "equal weight" rating to an "underweight" rating in a research report on Tuesday, June 23rd. Zacks Research downgraded Telenor ASA from a "hold" rating to a "strong sell" rating in a research note on Tuesday. Finally, Pareto Securities cut Telenor ASA from a "strong-buy" rating to a "hold" rating in a report on Friday, April 10th. Three research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Reduce".

Telenor ASA Company Profile

Telenor ASA is a Norway-based multinational telecommunications company that provides a broad range of communications and digital services to consumers and businesses. Its core offerings include mobile voice and data services, fixed broadband, television distribution, and related value-added digital services. The company also provides enterprise solutions such as business connectivity, cloud and hosting services, Internet of Things (IoT) connectivity, and wholesale telecommunications services.

In its consumer-facing business, Telenor operates mobile networks, broadband access and content services, and increasingly bundles digital and financial services to enhance customer engagement.

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