Short Interest in Telenor ASA (OTCMKTS:TELNY) Grows By 255.9%

Telenor ASA (OTCMKTS:TELNY) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 51,600 shares, an increase of 255.9% from the September 30th total of 14,500 shares. Based on an average daily trading volume, of 50,600 shares, the days-to-cover ratio is currently 1.0 days.

Wall Street Analysts Forecast Growth

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

Telenor ASA Price Performance

Shares of OTCMKTS TELNY traded down $0.07 during midday trading on Friday, reaching $11.90. 23,329 shares of the company were exchanged, compared to its average volume of 28,136. Telenor ASA has a one year low of $10.15 and a one year high of $13.12. The stock has a market cap of $16.28 billion, a P/E ratio of 23.32 and a beta of 0.57. 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 stock’s 50-day moving average price is $12.48 and its 200-day moving average price is $11.92.

Telenor ASA Cuts Dividend

The company also recently announced a dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Friday, October 18th will be given a $0.4252 dividend. The ex-dividend date of this dividend is Thursday, October 17th. Telenor ASA’s dividend payout ratio is presently 111.76%.

Telenor ASA Company Profile

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.