Terna Rete Elettrica Nazionale SpA Unsponsored ADR (OTCMKTS:TEZNY) Sees Large Growth in Short Interest

Key Points

• Terna Rete Elettrica Nazionale SpA saw a significant increase in short interest of 437.5% from July to August, with a total of 8,600 shares shorted as of August 15th.
• The company has an "underweight" rating from Morgan Stanley, with a consensus rating of "Reduce" from analysts.
• Terna recently announced an increase in its dividend to $0.6325 per share, leading to a dividend yield of 282.0%.

Terna Rete Elettrica Nazionale SpA Unsponsored ADR (OTCMKTS:TEZNY - Get Free Report) saw a significant growth in short interest in the month of August. As of August 15th, there was short interest totaling 8,600 shares, agrowthof437.5% from the July 31st total of 1,600 shares. Based on an average daily volume of 23,400 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily volume of 23,400 shares, the days-to-cover ratio is presently 0.4 days.

Terna Rete Elettrica Nazionale Stock Up 1.3%

Terna Rete Elettrica Nazionale stock traded up $0.39 during midday trading on Friday, hitting $29.99. The stock had a trading volume of 14,806 shares, compared to its average volume of 10,317. Terna Rete Elettrica Nazionale has a 12 month low of $22.94 and a 12 month high of $31.18. The business has a fifty day moving average price of $29.82 and a 200 day moving average price of $28.75.

Terna Rete Elettrica Nazionale Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 25th were issued a $0.6325 dividend. This is an increase from Terna Rete Elettrica Nazionale's previous dividend of $0.38. This represents a yield of 282.0%. The ex-dividend date of this dividend was Tuesday, June 24th.

Analysts Set New Price Targets

Separately, Morgan Stanley reiterated an "underweight" rating on shares of Terna Rete Elettrica Nazionale in a research note on Friday, May 16th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Reduce".

About Terna Rete Elettrica Nazionale

Terna S.p.A., together with its subsidiaries, provides electricity transmission and dispatching services in Italy, other Euro-area countries, and internationally. It operates through Regulated, Non-Regulated, and International segments. The company is involved in the design, construction, management, development, operation, and maintenance of national transmission grid; dispatching and metering; and construction of storage systems.