Terna Rete Elettrica Nazionale SpA Unsponsored ADR (OTCMKTS:TEZNY) Short Interest Down 82.6% in July

Key Points

• Terna Rete Elettrica Nazionale SpA experienced a significant 82.6% drop in short interest in July, leading to only 1,600 shares currently sold short.
• The company has increased its dividend to $0.6325 from the previous amount of $0.38, resulting in a remarkable yield of 282.0%.
• Despite the dividend hike, Morgan Stanley maintains an "underweight" rating on Terna shares, indicating cautious investor sentiment.

Terna Rete Elettrica Nazionale SpA Unsponsored ADR (OTCMKTS:TEZNY - Get Free Report) saw a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 1,600 shares, adeclineof82.6% from the July 15th total of 9,200 shares. Approximately0.0% of the company's shares are sold short. Based on an average trading volume of 27,600 shares, the short-interest ratio is currently 0.1 days. Based on an average trading volume of 27,600 shares, the short-interest ratio is currently 0.1 days. Approximately0.0% of the company's shares are sold short.

Terna Rete Elettrica Nazionale Stock Down 0.1%

Terna Rete Elettrica Nazionale stock traded down $0.03 during midday trading on Tuesday, hitting $30.05. The stock had a trading volume of 3,108 shares, compared to its average volume of 20,389. The business has a fifty day moving average price of $30.00 and a 200 day moving average price of $28.27. Terna Rete Elettrica Nazionale has a 12 month low of $22.94 and a 12 month high of $31.18.

Terna Rete Elettrica Nazionale Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 25th were issued a dividend of $0.6325 per share. This represents a dividend yield of 282.0%. This is a positive change from Terna Rete Elettrica Nazionale's previous dividend of $0.38. The ex-dividend date of this dividend was Tuesday, June 24th.

Analyst Ratings Changes

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

Terna Rete Elettrica Nazionale Company Profile

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.