Short Interest in Freenet AG (OTCMKTS:FRTAF) Increases By 113.2%

Freenet AG (OTCMKTS:FRTAF) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 580,730 shares, an increase of 113.2% from the April 30th total of 272,354 shares. Based on an average trading volume of 1,688 shares, the days-to-cover ratio is presently 344.0 days. Currently, 0.5% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several analysts recently commented on FRTAF shares. DZ Bank upgraded Freenet from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Citigroup restated a “neutral” rating on shares of Freenet in a research report on Tuesday, April 21st. Finally, UBS Group cut Freenet from a “buy” rating to a “sell” rating in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

Freenet Stock Performance

Shares of FRTAF stock opened at $29.77 on Monday. Freenet has a 1 year low of $29.77 and a 1 year high of $35.41. The stock has a market cap of $3.54 billion, a PE ratio of 11.63 and a beta of -0.03. The business’s fifty day moving average is $30.09 and its 200-day moving average is $31.96.

Freenet (OTCMKTS:FRTAF) last issued its quarterly earnings results on Thursday, March 19th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.09). Freenet had a net margin of 10.04% and a return on equity of 17.88%. The firm had revenue of $712.21 million for the quarter, compared to analyst estimates of $611.50 million.

About Freenet

Freenet AG is a Germany-based telecommunications and digital services provider offering a broad portfolio of consumer and business solutions. The company specializes in distributing mobile communications services, including contract and prepaid offerings from major network operators, as well as providing broadband internet access, cable and IPTV television, and related hardware such as routers and set-top boxes. Through its digital lifestyle segment, Freenet AG also delivers value-added services and digital content, ranging from music and video streaming to online gaming and e-books.

In its mobile communications division, Freenet AG acts as a sales and service partner for leading German network operators, managing customer acquisition, billing, and technical support.