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

Telenor ASA (OTCMKTS:TELNY) saw a large decline in short interest in March. As of March 31st, there was short interest totalling 6,100 shares, a decline of 88.8% from the March 15th total of 54,700 shares. Based on an average daily trading volume, of 67,800 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

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

Telenor ASA Price Performance

TELNY stock traded up $0.26 during mid-day trading on Monday, reaching $13.80. The company’s stock had a trading volume of 44,884 shares, compared to its average volume of 38,005. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 0.88. The company’s 50 day moving average is $13.35 and its two-hundred day moving average is $12.35. Telenor ASA has a fifty-two week low of $10.55 and a fifty-two week high of $14.69. The stock has a market cap of $18.88 billion, a PE ratio of 10.62 and a beta of 0.44.

Telenor ASA (OTCMKTS:TELNY) last posted its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). Telenor ASA had a net margin of 24.17% and a return on equity of 16.15%. Equities research analysts expect that Telenor ASA will post 0.79 EPS 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.