Freenet AG (OTCMKTS:FRTAF) Short Interest Update

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

Freenet Price Performance

FRTAF stock remained flat at $27.00 on Friday. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 10.55 and a beta of -0.01. The business’s 50 day moving average price is $27.00 and its two-hundred day moving average price is $28.72. Freenet has a twelve month low of $27.00 and a twelve month high of $35.41.

Analysts Set New Price Targets

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