Tele2 (OTCMKTS:TLTZY) Sees Significant Increase in Short Interest

Tele2 (OTCMKTS:TLTZY) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 115,996 shares, an increase of 251.2% from the August 31st total of 33,032 shares. Based on an average daily volume of 148,320 shares, the short-interest ratio is presently 0.8 days. Approximately 0.0% of the company’s shares are sold short.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Zacks Research cut shares of Tele2 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th. Kepler Capital Markets upgraded shares of Tele2 from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. Sanford C. Bernstein cut Tele2 to a “market perform” rating in a research report on Thursday. Finally, BNP Paribas Exane downgraded Tele2 from an “outperform” rating to a “neutral” rating in a report on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Tele2 Stock Performance

Shares of Tele2 stock opened at $8.37 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $11.52 billion, a P/E ratio of 10.73 and a beta of 0.39. The business has a fifty day simple moving average of $8.63 and a two-hundred day simple moving average of $9.36. Tele2 has a 12 month low of $7.39 and a 12 month high of $11.61.

Tele2 (OTCMKTS:TLTZY) last announced its earnings results on Thursday, July 16th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The business had revenue of $766.77 million for the quarter, compared to the consensus estimate of $750.18 million. Tele2 had a net margin of 33.96% and a return on equity of 43.42%. On average, equities analysts forecast that Tele2 will post 0.78 earnings per share for the current fiscal year.

About Tele2

Tele2 AB is a Sweden-based telecommunications company that provides connectivity and digital communications services to consumers, businesses and public-sector organizations. Its offerings include mobile voice and data services, fixed broadband, telephony, television and related digital solutions.

The company also provides business connectivity, communications and Internet of Things services, helping organizations connect employees, locations, devices and industrial applications. Tele2 serves customers primarily in Sweden and the Baltic region, including Lithuania, Latvia and Estonia.

Founded in 1993, Tele2 established itself as a challenger in the Nordic telecommunications market and has expanded and reshaped its operations through acquisitions, disposals and partnerships.