Short Interest in Telenor ASA (OTCMKTS:TELNY) Decreases By 38.0%

Telenor ASA (OTCMKTS:TELNY) was the recipient of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totaling 4,900 shares, a decrease of 38.0% from the August 31st total of 7,900 shares. Based on an average daily volume of 20,100 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 20,100 shares, the short-interest ratio is currently 0.2 days.

Telenor ASA Stock Performance

Shares of Telenor ASA stock opened at $16.58 on Tuesday. The company has a current ratio of 0.44, a quick ratio of 0.42 and a debt-to-equity ratio of 1.02. The business has a 50-day moving average price of $16.39 and a two-hundred day moving average price of $15.44. Telenor ASA has a 1-year low of $10.55 and a 1-year high of $17.32. The company has a market cap of $22.69 billion, a P/E ratio of 22.41 and a beta of 0.44.

Telenor ASA (OTCMKTS:TELNY) last issued its quarterly earnings results 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 business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $20.02 billion. Telenor ASA had a return on equity of 14.56% and a net margin of 13.67%. As a group, analysts anticipate that Telenor ASA will post 0.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Zacks Research cut Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Berenberg Bank cut Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Finally, New Street Research cut Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 8th. Five research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Telenor ASA currently has a consensus rating of “Reduce”.

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.