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

Telenor ASA (OTCMKTS:TELNY) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 12,900 shares, a drop of 32.1% from the September 30th total of 19,000 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily volume of 28,300 shares, the short-interest ratio is presently 0.5 days. Based on an average daily volume of 28,300 shares, the short-interest ratio is presently 0.5 days. Currently, 0.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TELNY. New Street Research cut Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, August 8th. Zacks Research lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Telenor ASA currently has a consensus rating of “Reduce”.

Telenor ASA Price Performance

Telenor ASA stock opened at $14.85 on Tuesday. The stock’s fifty day moving average price is $16.50 and its two-hundred day moving average price is $15.79. Telenor ASA has a one year low of $10.55 and a one year high of $17.32. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.44 and a quick ratio of 0.42. The firm has a market cap of $20.32 billion, a PE ratio of 20.07 and a beta of 0.42.

Telenor ASA Company Profile

Telenor ASA, together with its subsidiaries, operates as a telecommunication company worldwide. It operates through four segments: Nordics, Asia, Infrastructure, and Amp. The company offers mobile subscriptions and handsets, telephony, broadband, data security, communications services, and TV services to residential and business customers, as well as wholesale services.