Short Interest in Telenor ASA (OTCMKTS:TELNY) Declines By 94.0%

Telenor ASA (OTCMKTS:TELNY) was the target of a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 4,332 shares, a drop of 94.0% from the July 30th total of 72,806 shares. Based on an average daily trading volume, of 157,373 shares, the short-interest ratio is currently 0.0 days. Currently, 0.0% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays cut Telenor ASA from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, June 23rd. Zacks Research cut shares of Telenor ASA from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Citigroup lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Finally, Pareto Securities upgraded Telenor ASA from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold”.

Telenor ASA Stock Up 1.7%

Shares of TELNY traded up $0.25 during midday trading on Tuesday, hitting $14.61. The company had a trading volume of 17,138 shares, compared to its average volume of 53,848. Telenor ASA has a 1 year low of $12.97 and a 1 year high of $18.92. The firm has a market capitalization of $19.99 billion, a P/E ratio of 14.91 and a beta of 0.31. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.32. The company’s 50-day simple moving average is $14.33 and its 200-day simple moving average is $16.24.

Telenor ASA (OTCMKTS:TELNY) last released its earnings results on Thursday, July 16th. The utilities provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Telenor ASA had a return on equity of 15.27% and a net margin of 17.19%. As a group, sell-side analysts expect that Telenor ASA will post 0.93 EPS for the current year.

About Telenor ASA

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.