Freenet AG (OTCMKTS:FRTAF) Short Interest Down 40.9% in August

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

Wall Street Analysts Forecast Growth

Separately, UBS Group raised shares of Freenet from a “sell” rating to a “neutral” rating in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Freenet Price Performance

FRTAF stock opened at $27.00 on Thursday. The firm has a market cap of $3.21 billion, a PE ratio of 10.55 and a beta of -0.01. The business has a 50 day moving average of $27.00 and a 200-day moving average of $28.77. Freenet has a 12-month low of $27.00 and a 12-month high of $35.41.

Freenet Company Profile

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.