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

Telenor ASA (OTCMKTS:TELNY) was the recipient of 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 volume of 42,400 shares, the short-interest ratio is presently 0.1 days.

Analysts Set New Price Targets

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

Telenor ASA Trading Down 0.3 %

Shares of TELNY stock traded down $0.04 during mid-day trading on Friday, reaching $11.68. The stock had a trading volume of 4,920 shares, compared to its average volume of 18,695. The stock’s 50-day moving average price is $11.58 and its two-hundred day moving average price is $11.38. Telenor ASA has a 52-week low of $10.01 and a 52-week high of $12.23. The firm has a market capitalization of $15.99 billion, a PE ratio of 16.45 and a beta of 0.56. The company has a current ratio of 0.58, a quick ratio of 0.84 and a debt-to-equity ratio of 0.96.

Telenor ASA (OTCMKTS:TELNY) last released its quarterly earnings data on Thursday, July 18th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter. Telenor ASA had a net margin of 11.36% and a return on equity of 13.55%. The firm had revenue of $1.86 billion for the quarter. Equities analysts expect that Telenor ASA will post 1.29 earnings per share for the current fiscal 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.