Telenor ASA (OTCMKTS:TELNY) Share Price Crosses Below Fifty Day Moving Average – Here’s What Happened

Telenor ASA (OTCMKTS:TELNY) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $14.91 and traded as low as $14.03. Telenor ASA shares last traded at $14.0725, with a volume of 28,089 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research downgraded Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce”.

Telenor ASA Price Performance

The firm has a market capitalization of $19.26 billion, a P/E ratio of 19.02 and a beta of 0.38. The business’s fifty day moving average is $14.91 and its 200 day moving average is $15.62. The company has a current ratio of 0.52, a quick ratio of 0.51 and a debt-to-equity ratio of 0.98.

Telenor ASA Company Profile

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.