Telenor ASA (OTCMKTS:TELNY) Sees Strong Trading Volume – Still a Buy?

Telenor ASA (OTCMKTS:TELNY) saw unusually-strong trading volume on Thursday . Approximately 42,881 shares were traded during mid-day trading, an increase of 46% from the previous session’s volume of 29,439 shares.The stock last traded at $14.04 and had previously closed at $14.22.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

Telenor ASA Price Performance

The stock has a market cap of $19.54 billion, a P/E ratio of 19.30 and a beta of 0.38. The firm’s fifty day moving average price is $15.22 and its 200-day moving average price is $15.68. The company has a quick ratio of 0.51, a current ratio of 0.52 and a debt-to-equity ratio of 0.98.

About Telenor ASA

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.