Terna Rete Elettrica Nazionale SpA Unsponsored ADR (OTCMKTS:TEZNY) Sees Large Growth in Short Interest

Terna Rete Elettrica Nazionale SpA Unsponsored ADR (OTCMKTS:TEZNY) was the target of a large increase in short interest during the month of August. As of August 15th, there was short interest totaling 8,600 shares, anincreaseof437.5% from the July 31st total of 1,600 shares. Based on an average daily trading volume, of 23,400 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily trading volume, of 23,400 shares, the days-to-cover ratio is presently 0.4 days.

Analysts Set New Price Targets

Separately, Morgan Stanley reissued an “underweight” rating on shares of Terna Rete Elettrica Nazionale in a report on Friday, May 16th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce”.

Terna Rete Elettrica Nazionale Stock Down 2.9%

Shares of OTCMKTS:TEZNY opened at $29.22 on Wednesday. The business’s 50 day moving average is $29.86 and its 200 day moving average is $28.67. Terna Rete Elettrica Nazionale has a 12-month low of $22.94 and a 12-month high of $31.18.

Terna Rete Elettrica Nazionale Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 25th were paid a $0.6325 dividend. The ex-dividend date was Tuesday, June 24th. This is a boost from Terna Rete Elettrica Nazionale’s previous dividend of $0.38. This represents a dividend yield of 282.0%.

Terna Rete Elettrica Nazionale Company Profile

Terna S.p.A., together with its subsidiaries, provides electricity transmission and dispatching services in Italy, other Euro-area countries, and internationally. It operates through Regulated, Non-Regulated, and International segments. The company is involved in the design, construction, management, development, operation, and maintenance of national transmission grid; dispatching and metering; and construction of storage systems.