Telenor ASA (OTCMKTS:TELNY) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Telenor ASA (OTCMKTS:TELNY) saw an uptick in trading volume on Wednesday . 95,591 shares traded hands during mid-day trading, an increase of 238% from the previous session’s volume of 28,265 shares.The stock last traded at $14.38 and had previously closed at $14.63.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TELNY. Zacks Research lowered shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. New Street Research cut Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 8th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Telenor ASA Stock Down 1.0%

The company has a debt-to-equity ratio of 1.02, a current ratio of 0.44 and a quick ratio of 0.42. The firm has a market capitalization of $19.83 billion, a PE ratio of 19.58 and a beta of 0.42. The company has a 50-day moving average price of $16.26 and a 200 day moving average price of $15.80.

Telenor ASA Company Profile

Telenor ASA, together with its subsidiaries, operates as a telecommunication company worldwide. It operates through four segments: Nordics, Asia, Infrastructure, and Amp. The company offers mobile subscriptions and handsets, telephony, broadband, data security, communications services, and TV services to residential and business customers, as well as wholesale services.