Telenor ASA (OTCMKTS:TELNY) Shares Shorted: Short Interest Up 175.9% in October

Telenor ASA (OTCMKTS:TELNY) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 102,360 shares, an increase of 175.9% from the September 30th total of 37,094 shares. Based on an average trading volume of 193,706 shares, the short-interest ratio is currently 0.5 days. Currently, 0.0% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of brokerages recently weighed in on TELNY. Pareto Securities raised shares of Telenor ASA from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Berenberg Bank raised Telenor ASA from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 1st. Zacks Research lowered Telenor ASA from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 20th. The Goldman Sachs Group lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 4th. Finally, Kepler Capital Markets raised Telenor ASA from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 24th. Three investment analysts have rated the stock with a Strong Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Telenor ASA currently has an average rating of “Moderate Buy”.

Telenor ASA Stock Performance

Telenor ASA stock opened at $14.35 on Friday. The company has a market cap of $19.64 billion, a PE ratio of 14.98 and a beta of 0.31. The company has a current ratio of 1.32, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06. Telenor ASA has a 1 year low of $12.97 and a 1 year high of $18.92. The company’s 50-day moving average is $13.92 and its two-hundred day moving average is $15.63.

Telenor ASA (OTCMKTS:TELNY) last issued its quarterly earnings results on Wednesday, October 28th. The utilities provider reported $0.28 EPS for the quarter, topping the consensus estimate of $0.24 by $0.04. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Telenor ASA had a net margin of 26.85% and a return on equity of 16.94%. Equities analysts anticipate that Telenor ASA will post 0.90 earnings per share for the current year.

About Telenor ASA

Telenor ASA is a Norwegian telecommunications company headquartered in Fornebu, Norway. The company provides mobile voice and data services, fixed broadband, television, digital communications and related technology services to consumers, businesses and public-sector customers.

Telenor’s core operating businesses are concentrated in the Nordic region, including Norway, Sweden, Denmark and Finland. Its services include mobile networks, fiber and other broadband connections, entertainment offerings, enterprise connectivity, Internet of Things solutions and digital services.