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

Telenor ASA (OTCMKTS:TELNY) was the recipient of a significant increase in short interest in 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 trading volume of 111,200 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

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

Telenor ASA Stock Performance

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

Telenor ASA (OTCMKTS:TELNY) last released its earnings results on Thursday, July 18th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter. The firm had revenue of $1.86 billion for the quarter. Telenor ASA had a return on equity of 13.55% and a net margin of 11.36%. As a group, equities analysts predict that Telenor ASA will post 1.31 EPS for the current fiscal year.

Telenor ASA Cuts Dividend

The business also recently announced a dividend, which will be paid on Wednesday, November 6th. Investors of record on Friday, October 18th will be given a dividend of $0.4252 per share. The ex-dividend date of this dividend is Thursday, October 17th. Telenor ASA’s dividend payout ratio (DPR) is currently 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.