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

Telenor ASA (OTCMKTS:TELNY) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 54,700 shares, a decrease of 82.5% from the February 28th total of 311,900 shares. Based on an average trading volume of 46,300 shares, the short-interest ratio is presently 1.2 days. Approximately 0.0% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, Sanford C. Bernstein raised Telenor ASA from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 23rd.

Telenor ASA Trading Up 0.5 %

Shares of Telenor ASA stock traded up $0.08 during midday trading on Wednesday, reaching $14.22. 12,034 shares of the company’s stock traded hands, compared to its average volume of 36,757. The company has a market cap of $19.46 billion, a PE ratio of 10.94 and a beta of 0.54. The stock has a 50 day moving average of $12.83 and a 200-day moving average of $12.25. Telenor ASA has a 12 month low of $10.55 and a 12 month high of $14.34. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.58 and a current ratio of 0.60.

Telenor ASA (OTCMKTS:TELNY) last announced its earnings results on Thursday, February 6th. The utilities provider reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Telenor ASA had a net margin of 24.17% and a return on equity of 16.15%. As a group, equities analysts expect that Telenor ASA will post 0.79 EPS for the current fiscal year.

About Telenor ASA

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.