Telenor ASA (OTCMKTS:TELNY) Short Interest Down 94.0% in August

Telenor ASA (OTCMKTS:TELNY – Get Free Report) was the recipient of a large decline in short interest in August. As of August 14th, there was short interest totaling 4,332 shares, a decline of 94.0% from the July 30th total of 72,806 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 157,373 shares, the short-interest ratio is presently 0.0 days.

Telenor ASA Stock Performance

Shares of TELNY stock opened at $14.50 on Thursday. The firm has a market capitalization of $19.84 billion, a price-to-earnings ratio of 14.80 and a beta of 0.31. The company has a current ratio of 1.32, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06. The business’s 50-day moving average price is $14.29 and its 200-day moving average price is $16.21. Telenor ASA has a 12 month low of $12.97 and a 12 month high of $18.92.

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Telenor ASA (OTCMKTS:TELNY – Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Telenor ASA had a net margin of 17.19% and a return on equity of 15.27%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.91 billion. Equities research analysts forecast that Telenor ASA will post 0.93 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TELNY. Barclays downgraded Telenor ASA from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, June 23rd. Zacks Research downgraded Telenor ASA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Citigroup cut shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Finally, Pareto Securities upgraded shares of Telenor ASA from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Telenor ASA currently has a consensus rating of “Hold”.

Read Our Latest Stock Analysis on TELNY

About Telenor ASA

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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.

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