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

Telenor ASA (OTCMKTS:TELNY) saw a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 3,900 shares, a drop of 49.4% from the June 30th total of 7,700 shares. Based on an average daily trading volume, of 42,400 shares, the short-interest ratio is presently 0.1 days.

Telenor ASA Stock Down 0.3 %

OTCMKTS TELNY traded down $0.04 during trading on Friday, reaching $11.68. 4,920 shares of the company’s stock traded hands, compared to its average volume of 18,695. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.58 and a quick ratio of 0.84. The firm has a market cap of $15.99 billion, a price-to-earnings ratio of 16.45 and a beta of 0.56. The company’s 50 day simple moving average is $11.58 and its two-hundred day simple moving average is $11.38. Telenor ASA has a 12-month low of $10.01 and a 12-month high of $12.23.

Telenor ASA (OTCMKTS:TELNY) last posted its earnings results on Thursday, July 18th. The utilities provider reported $0.18 EPS for the quarter. The business had revenue of $1.86 billion for the quarter. Telenor ASA had a net margin of 11.36% and a return on equity of 13.55%. As a group, sell-side analysts forecast that Telenor ASA will post 1.29 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, New Street Research raised shares of Telenor ASA to a “strong-buy” rating in a research note on Monday, July 8th.

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.