Short Interest in Freenet AG (OTCMKTS:FRTAF) Declines By 40.9%

Freenet AG (OTCMKTS:FRTAF) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 325,292 shares, a decline of 40.9% from the August 15th total of 550,474 shares. Based on an average trading volume of 155 shares, the days-to-cover ratio is presently 2,098.7 days. Currently, 0.3% of the company’s shares are sold short.

Freenet Price Performance

Shares of FRTAF remained flat at $27.00 during mid-day trading on Wednesday. Freenet has a one year low of $27.00 and a one year high of $35.41. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 10.55 and a beta of -0.01. The firm has a 50-day moving average price of $27.00 and a two-hundred day moving average price of $28.83.

Wall Street Analysts Forecast Growth

Separately, UBS Group upgraded shares of Freenet from a “sell” rating to a “neutral” rating in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Freenet has an average rating of “Moderate Buy”.

About Freenet

Freenet AG is a Germany-based telecommunications and media company that provides mobile communications, internet access and television services. Rather than operating a nationwide mobile network of its own, the company primarily markets services using network capacity from other telecommunications operators under its own brands and through partner brands.

Its mobile communications business includes voice and data plans, smartphones, connected devices and related services for private and business customers.