Freenet (OTCMKTS:FRTAF) Downgraded by DZ Bank to “Hold”

DZ Bank cut shares of Freenet (OTCMKTS:FRTAF) from a strong-buy rating to a hold rating in a research report released on Friday morning,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. UBS Group cut Freenet from a “buy” rating to a “sell” rating in a report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Freenet in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Freenet has a consensus rating of “Reduce”.

Freenet Stock Performance

OTCMKTS:FRTAF opened at $32.04 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 16.69 and a beta of -0.11. The firm’s fifty day simple moving average is $34.36 and its 200 day simple moving average is $33.34. Freenet has a twelve month low of $30.78 and a twelve month high of $35.41.

Freenet Company Profile

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.