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

Telenor ASA (OTCMKTS:TELNY) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 58,100 shares, an increase of 41.7% from the December 31st total of 41,000 shares. Based on an average trading volume of 117,000 shares, the short-interest ratio is presently 0.5 days.

Wall Street Analyst Weigh In

Several research analysts have commented on TELNY shares. Sanford C. Bernstein raised shares of Telenor ASA from a “strong sell” rating to a “hold” rating in a report on Thursday, January 23rd. Barclays cut Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th.

Telenor ASA Price Performance

Telenor ASA stock traded down $0.13 during mid-day trading on Friday, reaching $12.20. 15,164 shares of the company’s stock traded hands, compared to its average volume of 40,515. Telenor ASA has a 12-month low of $10.55 and a 12-month high of $13.12. The company has a market cap of $16.69 billion, a price-to-earnings ratio of 18.21 and a beta of 0.58. The stock has a 50 day moving average of $11.47 and a two-hundred day moving average of $11.93. The company has a quick ratio of 0.56, a current ratio of 0.58 and a debt-to-equity ratio of 0.96.

Telenor ASA (OTCMKTS:TELNY) last announced its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $0.21 EPS for the quarter. Telenor ASA had a net margin of 12.38% and a return on equity of 14.50%. The firm had revenue of $1.87 billion during the quarter. Equities analysts forecast that Telenor ASA will post 1.26 earnings per share for the current year.

Telenor ASA Company Profile

Telenor ASA, together with its subsidiaries, operates as a telecommunication company worldwide. It operates through four segments: Nordics, Asia, Infrastructure, and Amp. The company offers mobile subscriptions and handsets, telephony, broadband, data security, communications services, and TV services to residential and business customers, as well as wholesale services.