Telenor ASA (OTCMKTS:TELNY) Sees Large Growth in Short Interest

Telenor ASA (OTCMKTS:TELNY) was the recipient of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 14,800 shares, a growth of 604.8% from the October 31st total of 2,100 shares. Based on an average daily volume of 34,500 shares, the days-to-cover ratio is currently 0.4 days.

Telenor ASA Stock Performance

TELNY stock traded up $0.20 during midday trading on Thursday, reaching $11.80. 13,295 shares of the company’s stock traded hands, compared to its average volume of 27,317. Telenor ASA has a 52 week low of $10.62 and a 52 week high of $13.12. The company has a 50-day moving average price of $12.25 and a two-hundred day moving average price of $11.99. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.56 and a current ratio of 0.58. The firm has a market capitalization of $16.15 billion, a PE ratio of 17.61 and a beta of 0.58.

Telenor ASA (OTCMKTS:TELNY) last released its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter. Telenor ASA had a return on equity of 14.50% and a net margin of 12.38%. The company had revenue of $1.87 billion for the quarter. As a group, equities analysts anticipate that Telenor ASA will post 1.28 EPS for the current year.

Telenor ASA Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, November 6th. Stockholders 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 (DPR) is currently 82.09%.

Analysts Set New Price Targets

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

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.