Telenor ASA (OTCMKTS:TELNY) Short Interest Up 605.8% in June

Telenor ASA (OTCMKTS:TELNY) was the target of 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. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 150,411 shares, the days-to-cover ratio is currently 0.6 days.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TELNY. Citigroup cut 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 report on Tuesday, June 23rd. Zacks Research downgraded shares of Telenor ASA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Finally, Pareto Securities lowered shares of 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 given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce”.

Telenor ASA Price Performance

Shares of OTCMKTS:TELNY traded up $0.11 during trading on Monday, reaching $14.91. The stock had a trading volume of 29,976 shares, compared to its average volume of 42,798. The stock has a market capitalization of $20.40 billion, a PE ratio of 14.34 and a beta of 0.31. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.71 and a quick ratio of 0.69. Telenor ASA has a 52 week low of $13.79 and a 52 week high of $18.92. The business’s 50-day moving average price is $15.83 and its 200 day moving average price is $16.44.

Telenor ASA (OTCMKTS:TELNY) last released its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. Telenor ASA had a return on equity of 16.31% and a net margin of 18.28%.The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. As a group, equities analysts predict that Telenor ASA will post 0.93 earnings per share for the current year.

About Telenor ASA

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.