Short Interest in Telenor ASA (OTCMKTS:TELNY) Decreases By 88.8%

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

Analyst Upgrades and Downgrades

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

Telenor ASA Price Performance

Telenor ASA stock traded up $0.26 during midday trading on Tuesday, reaching $13.80. 44,884 shares of the stock traded hands, compared to its average volume of 38,070. The stock has a market cap of $18.88 billion, a P/E ratio of 10.62 and a beta of 0.44. Telenor ASA has a 12 month low of $10.55 and a 12 month high of $14.69. The stock’s fifty day moving average is $13.38 and its 200-day moving average is $12.36. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 0.88.

Telenor ASA (OTCMKTS:TELNY) last released its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.16 earnings per share (EPS) 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 research analysts anticipate that Telenor ASA will post 0.79 EPS for the current 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.