Telenor ASA (OTCMKTS:TELNY) Short Interest Down 95.9% in October

Telenor ASA (OTCMKTS:TELNY) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 2,100 shares, a drop of 95.9% from the October 15th total of 51,600 shares. Based on an average trading volume of 102,700 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analysts Forecast Growth

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

Telenor ASA Trading Down 0.5 %

Shares of OTCMKTS:TELNY traded down $0.06 during trading on Tuesday, reaching $11.84. The stock had a trading volume of 20,909 shares, compared to its average volume of 27,567. The business has a fifty day moving average price of $12.45 and a 200-day moving average price of $11.98. The company has a quick ratio of 0.56, a current ratio of 0.58 and a debt-to-equity ratio of 0.96. Telenor ASA has a fifty-two week low of $10.22 and a fifty-two week high of $13.12. The stock has a market cap of $16.20 billion, a P/E ratio of 17.67 and a beta of 0.58.

Telenor ASA (OTCMKTS:TELNY) last issued its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $0.21 EPS for the quarter. The company had revenue of $1.87 billion for the quarter. Telenor ASA had a return on equity of 14.50% and a net margin of 12.38%. As a group, analysts anticipate that Telenor ASA will post 1.32 earnings per share for the current fiscal year.

Telenor ASA Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, November 6th. Shareholders of record on Friday, October 18th were paid a $0.4252 dividend. The ex-dividend date was Thursday, October 17th. Telenor ASA’s dividend payout ratio is currently 82.09%.

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.