Telenor ASA (OTCMKTS:TELNY) Short Interest Down 95.9% in October

Telenor ASA (OTCMKTS:TELNY) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 2,100 shares, a drop of 95.9% from the October 15th total of 51,600 shares. Based on an average daily trading volume, of 102,700 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analyst Weigh In

Separately, Barclays downgraded shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th.

Telenor ASA Stock Performance

OTCMKTS:TELNY traded down $0.14 during mid-day trading on Wednesday, hitting $11.89. The stock had a trading volume of 18,017 shares, compared to its average volume of 27,504. The stock has a market capitalization of $16.27 billion, a price-to-earnings ratio of 16.04 and a beta of 0.58. The company has a 50 day simple moving average of $12.44 and a 200-day simple moving average of $11.99. Telenor ASA has a 52 week low of $10.22 and a 52 week high of $13.12. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.96.

Telenor ASA (OTCMKTS:TELNY) last issued its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.21 earnings per share for the quarter. The firm had revenue of $1.87 billion for the quarter. Telenor ASA had a net margin of 12.38% and a return on equity of 14.50%. On average, research analysts expect that Telenor ASA will post 1.27 earnings per share for the current fiscal year.

Telenor ASA Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, November 6th. Investors of record on Friday, October 18th were given a $0.4252 dividend. The ex-dividend date of this dividend was Thursday, October 17th. Telenor ASA’s dividend payout ratio is presently 82.09%.

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.