Freenet (OTCMKTS:FRTAF) Sets New 12-Month Low – Here’s Why

Freenet AG (OTCMKTS:FRTAF)’s stock price reached a new 52-week low on Monday . The stock traded as low as $27.00 and last traded at $27.00, with a volume of 100 shares changing hands. The stock had previously closed at $29.00.

Analysts Set New Price Targets

Several analysts recently commented on FRTAF shares. Citigroup restated a “neutral” rating on shares of Freenet in a report on Tuesday, April 21st. UBS Group upgraded shares of Freenet from a “sell” rating to a “neutral” rating in a research report on Wednesday, June 24th. Finally, DZ Bank raised shares of Freenet from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Freenet has a consensus rating of “Moderate Buy”.

Freenet Price Performance

The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 10.55 and a beta of -0.03. The business has a fifty day moving average of $28.75 and a 200 day moving average of $31.31.

About Freenet

Freenet AG is a Germany-based telecommunications and digital services provider offering a broad portfolio of consumer and business solutions. The company specializes in distributing mobile communications services, including contract and prepaid offerings from major network operators, as well as providing broadband internet access, cable and IPTV television, and related hardware such as routers and set-top boxes. Through its digital lifestyle segment, Freenet AG also delivers value-added services and digital content, ranging from music and video streaming to online gaming and e-books.

In its mobile communications division, Freenet AG acts as a sales and service partner for leading German network operators, managing customer acquisition, billing, and technical support.