Freenet (OTCMKTS:FRTAF) Stock Crosses Below Fifty Day Moving Average – Time to Sell?

Freenet AG (OTCMKTS:FRTAF)’s stock price passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $30.65 and traded as low as $29.77. Freenet shares last traded at $29.77, with a volume of 0 shares traded.

Analyst Ratings Changes

Several research analysts recently commented on the company. Citigroup reiterated a “neutral” rating on shares of Freenet in a research note on Tuesday, April 21st. DZ Bank cut Freenet from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Freenet in a research note on Wednesday, January 21st. Finally, UBS Group cut Freenet from a “buy” rating to a “sell” rating in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce”.

Freenet Price Performance

The stock has a market capitalization of $3.54 billion, a P/E ratio of 11.45 and a beta of -0.03. The company has a fifty day moving average of $30.65 and a two-hundred day moving average of $32.26.

Freenet (OTCMKTS:FRTAF) last announced its quarterly earnings data on Thursday, March 19th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.09). The firm had revenue of $712.21 million during the quarter, compared to the consensus estimate of $611.50 million. Freenet had a net margin of 11.14% and a return on equity of 18.23%.

About Freenet

Freenet AG is a Germany-based telecommunications and digital services provider offering a broad portfolio of consumer and business solutions. The company specializes in distributing mobile communications services, including contract and prepaid offerings from major network operators, as well as providing broadband internet access, cable and IPTV television, and related hardware such as routers and set-top boxes. Through its digital lifestyle segment, Freenet AG also delivers value-added services and digital content, ranging from music and video streaming to online gaming and e-books.

In its mobile communications division, Freenet AG acts as a sales and service partner for leading German network operators, managing customer acquisition, billing, and technical support.