Short Interest in Telenor ASA (OTCMKTS:TELNY) Declines By 50.5%

Telenor ASA (OTCMKTS:TELNY) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 12,444 shares, a drop of 50.5% from the May 31st total of 25,138 shares. Based on an average trading volume of 138,988 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Several research firms have commented on TELNY. Citigroup lowered shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Barclays lowered Telenor ASA from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, June 23rd. Pareto Securities downgraded Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. 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. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Telenor ASA Price Performance

OTCMKTS TELNY opened at $14.18 on Thursday. The firm’s fifty day simple moving average is $16.17 and its two-hundred day simple moving average is $16.42. The firm has a market capitalization of $19.40 billion, a P/E ratio of 13.63 and a beta of 0.31. The company has a current ratio of 0.71, a quick ratio of 0.69 and a debt-to-equity ratio of 0.98. Telenor ASA has a 12-month low of $13.79 and a 12-month 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. Telenor ASA had a return on equity of 16.31% and a net margin of 18.28%.The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. Analysts forecast that Telenor ASA will post 2.09 EPS for the current fiscal 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.