Telenor ASA (OTCMKTS:TELNY) Short Interest Update

Telenor ASA (OTCMKTS:TELNY) was the recipient of a significant growth in short interest in April. As of April 30th, there was short interest totaling 55,020 shares, a growth of 201.6% from the April 15th total of 18,240 shares. Based on an average daily volume of 89,659 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.0% of the shares of the stock are sold short.

Telenor ASA Price Performance

Shares of OTCMKTS:TELNY traded down $0.01 during trading on Thursday, hitting $17.13. 14,310 shares of the company’s stock were exchanged, compared to its average volume of 33,264. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.71 and a quick ratio of 0.69. Telenor ASA has a 52-week low of $13.79 and a 52-week high of $18.92. The business’s 50-day simple moving average is $17.32 and its 200 day simple moving average is $16.11. The company has a market cap of $23.44 billion, a price-to-earnings ratio of 16.47 and a beta of 0.28.

Telenor ASA (OTCMKTS:TELNY) last released its earnings results on Tuesday, April 28th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Telenor ASA had a return on equity of 16.31% and a net margin of 18.28%. As a group, equities analysts predict that Telenor ASA will post 2.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TELNY shares. Zacks Research cut Telenor ASA from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 28th. Pareto Securities cut Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Finally, Citigroup cut Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

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.