Short Interest in Tele2 (OTCMKTS:TLTZY) Drops By 51.0%

Tele2 (OTCMKTS:TLTZY) saw a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 43,392 shares, a drop of 51.0% from the May 31st total of 88,591 shares. Based on an average trading volume of 211,354 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the shares of the company are short sold.

Tele2 Trading Down 0.8%

OTCMKTS:TLTZY opened at $8.88 on Tuesday. Tele2 has a 1 year low of $6.88 and a 1 year high of $11.61. The stock’s fifty day moving average price is $9.66 and its two-hundred day moving average price is $9.63. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.03 and a quick ratio of 0.97. The company has a market cap of $12.17 billion, a P/E ratio of 11.38 and a beta of 0.39.

Tele2 (OTCMKTS:TLTZY) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.40. Tele2 had a return on equity of 44.93% and a net margin of 34.19%.The company had revenue of $764.89 million during the quarter, compared to analysts’ expectations of $775.46 million. As a group, analysts expect that Tele2 will post 0.83 EPS for the current year.

Wall Street Analyst Weigh In

TLTZY has been the topic of several recent research reports. Citigroup downgraded shares of Tele2 from a “buy” rating to a “neutral” rating in a report on Thursday, May 7th. Zacks Research upgraded shares of Tele2 from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Tele2 in a research report on Tuesday, April 21st. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Tele2 has an average rating of “Buy”.

About Tele2

Tele2 AB is a European telecommunications company headquartered in Kista, Sweden. Since its founding in 1993, the firm has developed into a full-service provider of voice, data and multimedia solutions for both consumer and business markets. Its core offerings include mobile telephony, fixed and mobile broadband, voice over IP, digital television services and data network solutions, alongside emerging Internet of Things (IoT) and machine-to-machine connectivity products.

Tele2 operates primarily across the Nordic and Baltic regions, with key markets in Sweden, Estonia, Latvia and Lithuania.