Tenaga Nasional Berhad (OTCMKTS:TNABY) Sees Significant Increase in Short Interest

Tenaga Nasional Berhad (OTCMKTS:TNABY) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 520 shares, a growth of 409.8% from the August 15th total of 102 shares. Based on an average trading volume of 137 shares, the days-to-cover ratio is presently 3.8 days. Currently, 0.0% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Tenaga Nasional Berhad to a “hold” rating in a report on Wednesday, June 24th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Tenaga Nasional Berhad has an average rating of “Hold”.

Tenaga Nasional Berhad Stock Performance

TNABY opened at $12.75 on Friday. The stock has a market capitalization of $18.45 billion, a PE ratio of 45.54 and a beta of -0.37. The stock’s 50 day moving average price is $14.47 and its 200-day moving average price is $14.56. Tenaga Nasional Berhad has a 52-week low of $11.70 and a 52-week high of $15.70.

Tenaga Nasional Berhad Company Profile

Tenaga Nasional Berhad (OTCMKTS:TNABY) is Malaysia’s largest integrated electricity utility and a government-linked company. Through its subsidiaries and operating businesses, the company generates, transmits, distributes and retails electricity, primarily serving customers in Peninsular Malaysia, with additional activities connected to Sabah and Labuan.

The company operates a diversified power-generation portfolio that includes conventional and renewable energy assets. Its transmission and distribution networks deliver electricity to residential, commercial and industrial customers, while its retail and energy-services activities support customer solutions, energy efficiency and related utility needs.

Tenaga Nasional has also expanded beyond its domestic utility base through investments in renewable energy, power generation and engineering-related businesses in selected international markets.