Telenor ASA (OTCMKTS:TELNY) Short Interest Down 46.7% in May

Telenor ASA (OTCMKTS:TELNY) saw a large decrease in short interest in the month of May. As of May 15th, there was short interest totaling 29,340 shares, a decrease of 46.7% from the April 30th total of 55,020 shares. Based on an average trading volume of 57,701 shares, the short-interest ratio is currently 0.5 days. Currently, 0.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TELNY. Pareto Securities downgraded shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Citigroup downgraded shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Finally, Zacks Research raised shares of Telenor ASA from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 27th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

Telenor ASA Price Performance

OTCMKTS:TELNY traded down $0.03 on Tuesday, hitting $16.28. The company had a trading volume of 58,462 shares, compared to its average volume of 41,906. The stock has a market capitalization of $22.28 billion, a price-to-earnings ratio of 15.65 and a beta of 0.28. The company has a current ratio of 0.71, a quick ratio of 0.69 and a debt-to-equity ratio of 0.98. The firm has a 50 day moving average of $17.09 and a two-hundred day moving average of $16.27. Telenor ASA has a 52 week low of $13.79 and a 52 week high of $18.92.

Telenor ASA (OTCMKTS:TELNY) last issued its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.21 by $0.02. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. Telenor ASA had a net margin of 18.28% and a return on equity of 16.31%. On average, research analysts anticipate that Telenor ASA will post 2.09 earnings per share for the current year.

Telenor ASA Company Profile

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.