MTN Group (OTCMKTS:MTNOY) Sees Large Volume Increase – Here’s Why

Shares of MTN Group Ltd. (OTCMKTS:MTNOY) saw unusually-strong trading volume on Thursday . Approximately 10,015 shares changed hands during trading, a decline of 30% from the previous session’s volume of 14,353 shares.The stock last traded at $12.30 and had previously closed at $12.28.

Analyst Ratings Changes

Separately, UBS Group started coverage on MTN Group in a report on Monday, March 23rd. They set a “buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

MTN Group Stock Performance

The company’s 50-day moving average is $12.01 and its 200-day moving average is $10.73. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.31.

About MTN Group

MTN Group (OTCMKTS: MTNOY) is a multinational telecommunications company headquartered in Johannesburg, South Africa. Founded in the mid-1990s as Mobile Telephone Networks, the company has grown into one of the largest mobile network operators serving consumers, businesses and governments across Africa and the Middle East. MTN is listed on the Johannesburg Stock Exchange and also trades over‑the‑counter in the United States under the symbol MTNOY.

The company’s core activities include mobile voice and data services, fixed‑line and broadband offerings, and enterprise solutions such as cloud, connectivity and managed services.