Short Interest in Telenor ASA (OTCMKTS:TELNY) Decreases By 50.5%

Telenor ASA (OTCMKTS:TELNY) saw a significant decrease in short interest in June. As of June 15th, there was short interest totaling 12,444 shares, a decrease of 50.5% from the May 31st total of 25,138 shares. Based on an average trading volume of 138,988 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company’s shares are short sold.

Telenor ASA Trading Down 0.6%

TELNY opened at $14.40 on Wednesday. The firm’s 50 day moving average is $16.24 and its 200-day moving average is $16.42. Telenor ASA has a 52-week low of $13.79 and a 52-week high of $18.92. The company has a quick ratio of 0.69, a current ratio of 0.71 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $19.70 billion, a P/E ratio of 13.85 and a beta of 0.28.

Telenor ASA (OTCMKTS:TELNY) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.02. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. Telenor ASA had a net margin of 18.28% and a return on equity of 16.31%. Analysts expect that Telenor ASA will post 2.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TELNY. Pareto Securities lowered shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Citigroup lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Barclays cut Telenor ASA from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, June 23rd. Finally, Zacks Research raised Telenor ASA from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 27th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

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.