Freenet (OTCMKTS:FRTAF) Shares Gap Up – Here’s What Happened

Freenet AG (OTCMKTS:FRTAF)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $30.78, but opened at $34.78. Freenet shares last traded at $34.78, with a volume of 500 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FRTAF. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Freenet in a report on Wednesday, January 21st. UBS Group downgraded Freenet from a “buy” rating to a “sell” rating in a research note on Wednesday, February 18th. One 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce”.

Freenet Stock Up 13.0%

The stock’s 50-day moving average price is $33.84 and its 200-day moving average price is $33.37. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 0.14. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of 18.11 and a beta of -0.09.

Freenet Company Profile

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.