Telenor ASA (OTCMKTS:TELNY) Short Interest Up 808.1% in August

Telenor ASA (OTCMKTS:TELNY) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totaling 39,339 shares, a growth of 808.1% from the August 15th total of 4,332 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 99,877 shares, the days-to-cover ratio is presently 0.4 days.

Analyst Ratings Changes

A number of research analysts have commented on TELNY shares. Zacks Research upgraded Telenor ASA from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 1st. The Goldman Sachs Group cut Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, September 4th. Pareto Securities raised Telenor ASA from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Finally, Barclays cut Telenor ASA from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Telenor ASA presently has a consensus rating of “Hold”.

Telenor ASA Stock Down 1.8%

Shares of Telenor ASA stock opened at $14.45 on Friday. The company has a market capitalization of $19.77 billion, a P/E ratio of 14.74 and a beta of 0.31. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.32 and a quick ratio of 1.30. The business has a 50-day moving average of $14.27 and a two-hundred day moving average of $15.91. Telenor ASA has a 1 year low of $12.97 and a 1 year high of $18.92.

Telenor ASA (OTCMKTS:TELNY) last announced its earnings results on Thursday, July 16th. The utilities provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). Telenor ASA had a return on equity of 15.27% and a net margin of 17.19%.The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. As a group, equities analysts predict that Telenor ASA will post 0.93 EPS for the current year.

Telenor ASA Company Profile

Telenor ASA is a Norwegian telecommunications company headquartered in Fornebu, Norway. It provides mobile communications, fixed-line and wireless broadband, television, and related digital services to consumers, businesses, and public-sector customers.

The company operates telecommunications businesses primarily across the Nordic region and Asia. Its services include mobile voice and data, 5G connectivity, broadband access, digital entertainment, communications infrastructure, and Internet of Things solutions.