Freenet (OTCMKTS:FRTAF) Stock Price Passes Below 50 Day Moving Average – Here’s Why

Shares of Freenet AG (OTCMKTS:FRTAF) passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $30.65 and traded as low as $29.77. Freenet shares last traded at $29.77, with a volume of 0 shares traded.

Analysts Set New Price Targets

Several research firms have weighed in on FRTAF. DZ Bank cut Freenet from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Freenet in a research report on Wednesday, January 21st. UBS Group cut Freenet from a “buy” rating to a “sell” rating in a research report on Wednesday, February 18th. Finally, Citigroup reiterated a “neutral” rating on shares of Freenet in a research report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce”.

Freenet Trading Up 8.1%

The company’s 50 day moving average is $30.65 and its 200 day moving average is $32.26. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 11.45 and a beta of -0.03.

Freenet (OTCMKTS:FRTAF) last announced its quarterly earnings results on Thursday, March 19th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.09). Freenet had a return on equity of 18.23% and a net margin of 11.14%.The company had revenue of $712.21 million for the quarter, compared to analyst estimates of $611.50 million.

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.