Telenor ASA (OTCMKTS:TELNY) Sees Significant Decrease in Short Interest

Telenor ASA (OTCMKTS:TELNY) saw a significant decrease in short interest in May. As of May 15th, there was short interest totaling 29,340 shares, a decrease of 46.7% from the April 30th total of 55,020 shares. Based on an average daily volume of 57,701 shares, the short-interest ratio is presently 0.5 days. Approximately 0.0% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

TELNY has been the subject of a number of recent research reports. Pareto Securities cut shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Citigroup lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Finally, Zacks Research upgraded Telenor ASA from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 27th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Telenor ASA presently has a consensus rating of “Hold”.

Telenor ASA Trading Down 1.9%

OTCMKTS TELNY traded down $0.31 during mid-day trading on Monday, reaching $16.12. 6,597 shares of the stock were exchanged, compared to its average volume of 34,134. The stock has a market capitalization of $22.06 billion, a PE ratio of 15.50 and a beta of 0.28. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.69 and a current ratio of 0.71. Telenor ASA has a 1-year low of $13.79 and a 1-year high of $18.92. The business’s fifty day simple moving average is $17.12 and its 200 day simple moving average is $16.25.

Telenor ASA (OTCMKTS:TELNY) last posted its quarterly earnings data 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 business had revenue of $1.95 billion for 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%. On average, research analysts anticipate that Telenor ASA will post 2.09 earnings per share for the current fiscal year.

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.