Telenor ASA (OTCMKTS:TELNY) Sees Significant Increase in Short Interest

Telenor ASA (OTCMKTS:TELNY) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totaling 102,360 shares, an increase of 175.9% from the September 30th total of 37,094 shares. Based on an average daily trading volume, of 193,706 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TELNY shares. Pareto Securities raised Telenor ASA from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Zacks Research lowered shares of Telenor ASA from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 20th. Berenberg Bank upgraded Telenor ASA from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 1st. The Goldman Sachs Group lowered shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, September 4th. Finally, Kepler Capital Markets upgraded Telenor ASA from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 24th. Three analysts have rated the stock with a Strong Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Telenor ASA presently has an average rating of “Moderate Buy”.

Telenor ASA Price Performance

OTCMKTS:TELNY opened at $14.05 on Thursday. The business’s 50-day moving average price is $13.92 and its 200 day moving average price is $15.63. The firm has a market cap of $19.23 billion, a P/E ratio of 14.34 and a beta of 0.31. The company has a quick ratio of 1.30, a current ratio of 1.32 and a debt-to-equity ratio of 1.06. Telenor ASA has a 52-week low of $12.97 and a 52-week high of $18.92.

Telenor ASA (OTCMKTS:TELNY) last announced its earnings results on Wednesday, October 28th. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. Telenor ASA had a return on equity of 15.27% and a net margin of 17.19%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.93 billion. As a group, sell-side analysts predict that Telenor ASA will post 0.90 earnings per share for the current fiscal year.

About Telenor ASA

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

Telenor’s core operating businesses are concentrated in the Nordic region, including Norway, Sweden, Denmark and Finland. Its services include mobile networks, fiber and other broadband connections, entertainment offerings, enterprise connectivity, Internet of Things solutions and digital services.