Telenor ASA (OTCMKTS:TELNY) Sees Large Growth in Short Interest

Telenor ASA (OTCMKTS:TELNY) was the recipient of a large growth in short interest in April. As of April 30th, there was short interest totaling 55,020 shares, a growth of 201.6% from the April 15th total of 18,240 shares. Based on an average trading volume of 89,659 shares, the short-interest ratio is currently 0.6 days. Approximately 0.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of analysts have commented on TELNY shares. Pareto Securities downgraded shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Citigroup cut shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Finally, Zacks Research downgraded Telenor ASA from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 28th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce”.

Telenor ASA Trading Up 0.2%

Shares of OTCMKTS:TELNY opened at $17.11 on Friday. The firm has a market capitalization of $23.41 billion, a P/E ratio of 16.45 and a beta of 0.28. Telenor ASA has a 12-month low of $13.79 and a 12-month high of $18.92. The company has a quick ratio of 0.69, a current ratio of 0.71 and a debt-to-equity ratio of 0.98. The firm has a fifty day moving average of $17.28 and a two-hundred day moving average of $16.12.

Telenor ASA (OTCMKTS:TELNY) last issued its earnings results on Tuesday, April 28th. The utilities provider reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. Telenor ASA had a return on equity of 16.31% and a net margin of 18.28%. On average, equities analysts expect 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.