Telenor ASA (OTCMKTS:TELNY) Shares Cross Below Fifty Day Moving Average – Here’s Why

Telenor ASA (OTCMKTS:TELNY) shares passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $15.96 and traded as low as $13.79. Telenor ASA shares last traded at $13.83, with a volume of 49,659 shares traded.

Wall Street Analysts Forecast Growth

TELNY has been the subject of a number of recent analyst reports. Zacks Research cut 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 shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, August 8th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce”.

Telenor ASA Stock Down 2.5%

The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.42 and a current ratio of 0.44. The firm has a fifty day simple moving average of $15.96 and a 200-day simple moving average of $15.76. The firm has a market cap of $18.92 billion, a price-to-earnings ratio of 18.69 and a beta of 0.42.

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.