Telenor ASA (OTCMKTS:TELNY) Shares Pass Below Fifty Day Moving Average – Here’s What Happened

Telenor ASA (OTCMKTS:TELNY) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $15.63 and traded as low as $14.35. Telenor ASA shares last traded at $14.5090, with a volume of 24,452 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TELNY. Zacks Research downgraded Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. New Street Research lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, August 8th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce”.

Telenor ASA Stock Performance

The stock has a market cap of $19.85 billion, a P/E ratio of 19.61 and a beta of 0.42. The company has a fifty day moving average of $15.63 and a 200 day moving average of $15.72. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.52 and a quick ratio of 0.51.

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.