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

Telenor ASA (OTCMKTS:TELNY – Get Rating) was the recipient of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 65,000 shares, an increase of 25.0% from the January 31st total of 52,000 shares. Based on an average trading volume of 103,100 shares, the days-to-cover ratio is presently 0.6 days.

Telenor ASA Stock Performance

OTCMKTS TELNY opened at $11.67 on Friday. The firm has a 50-day moving average of $10.59 and a 200-day moving average of $10.05. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.61 and a current ratio of 0.64. The stock has a market cap of $16.33 billion, a PE ratio of 3.64 and a beta of 0.48. Telenor ASA has a 52-week low of $8.55 and a 52-week high of $15.49.

Wall Street Analyst Weigh In

A number of analysts have commented on TELNY shares. UBS Group upgraded shares of Telenor ASA from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 11th. Morgan Stanley started coverage on shares of Telenor ASA in a research note on Thursday, January 12th. They issued an “equal weight” rating for the company. Finally, Nordea Equity Research upgraded shares of Telenor ASA from a “hold” rating to a “buy” rating in a research note on Monday, February 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Telenor ASA currently has a consensus rating of “Hold” and a consensus target price of $110.00.

About Telenor ASA

(Get Rating)

Telenor ASA engages in the provision of telecommunications, data, and media services. Its products and services include mobile communication, fixed line communication, and broadcasting activities. It operates through the following segments: Norway, Sweden, Denmark, DNA-Finland, dtac-Thailand, Digi-Malaysia, Grameenphone-Bangladesh, Pakistan, and Other Units.