Telenor ASA (OTCMKTS:TELNY) Stock Price Crosses Below 50 Day Moving Average – Time to Sell?

Telenor ASA (OTCMKTS:TELNY) shares passed below its 50-day moving average during trading on Friday . The stock has a 50-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.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Telenor ASA presently has a consensus rating of “Reduce”.

Telenor ASA Stock Down 1.2%

The company has a debt-to-equity ratio of 0.98, a current ratio of 0.52 and a quick ratio of 0.51. The firm has a market cap of $19.26 billion, a PE ratio of 19.02 and a beta of 0.38. The business has a fifty day moving average price of $14.91 and a two-hundred day moving average price of $15.62.

About Telenor ASA

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.