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

Telenor ASA (OTCMKTS:TELNY) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 9,700 shares, an increase of 9,600.0% from the August 31st total of 100 shares. Based on an average daily volume of 111,200 shares, the short-interest ratio is currently 0.1 days.

Analyst Ratings Changes

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

Telenor ASA Price Performance

OTCMKTS TELNY traded down $0.24 on Friday, reaching $12.79. The company’s stock had a trading volume of 9,949 shares, compared to its average volume of 36,179. Telenor ASA has a 52 week low of $10.01 and a 52 week high of $13.12. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.96. The firm has a market cap of $17.50 billion, a PE ratio of 25.08 and a beta of 0.57. The business has a 50-day moving average price of $12.20 and a 200 day moving average price of $11.72.

Telenor ASA (OTCMKTS:TELNY) last issued its earnings results on Thursday, July 18th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter. The business had revenue of $1.86 billion during the quarter. Telenor ASA had a return on equity of 13.55% and a net margin of 11.36%. Sell-side analysts expect that Telenor ASA will post 1.31 EPS for the current year.

Telenor ASA Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Friday, October 18th will be issued a dividend of $0.4252 per share. The ex-dividend date is Thursday, October 17th. Telenor ASA’s payout ratio is presently 125.49%.

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.