Telenor ASA (OTCMKTS:TELNY) Sees Large Volume Increase – What’s Next?

Shares of Telenor ASA (OTCMKTS:TELNY) saw unusually-high trading volume on Wednesday . Approximately 95,591 shares changed hands during mid-day trading, an increase of 238% from the previous session’s volume of 28,265 shares.The stock last traded at $14.38 and had previously closed at $14.63.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TELNY. 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. Zacks Research downgraded Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce”.

Telenor ASA Trading Down 1.0%

The company has a quick ratio of 0.42, a current ratio of 0.44 and a debt-to-equity ratio of 1.02. The firm’s fifty day moving average is $16.26 and its two-hundred day moving average is $15.80. The firm has a market cap of $19.83 billion, a P/E ratio of 19.58 and a beta of 0.42.

About Telenor ASA

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.