MTN Group Ltd. (OTCMKTS:MTNOY) Sees Large Increase in Short Interest

MTN Group Ltd. (OTCMKTS:MTNOY) saw a significant growth in short interest in May. As of May 15th, there was short interest totaling 30,565 shares, a growth of 692.0% from the April 30th total of 3,859 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average trading volume of 26,568 shares, the short-interest ratio is presently 1.2 days.

Wall Street Analysts Forecast Growth

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

MTN Group Stock Down 1.2%

OTCMKTS:MTNOY traded down $0.17 during trading hours on Friday, reaching $13.42. The company had a trading volume of 18,542 shares, compared to its average volume of 14,064. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.31. MTN Group has a 52 week low of $6.89 and a 52 week high of $13.61. The firm’s 50 day moving average price is $12.33 and its 200-day moving average price is $11.30.

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.