Short Interest in MTN Group Ltd. (OTCMKTS:MTNOY) Increases By 129.9%

MTN Group Ltd. (OTCMKTS:MTNOY) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totaling 14,665 shares, a growth of 129.9% from the June 15th total of 6,380 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 22,692 shares, the days-to-cover ratio is presently 0.6 days.

Wall Street Analyst Weigh In

Separately, UBS Group started coverage on MTN Group in a research report on Monday, March 23rd. They set a “buy” rating on the stock. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

MTN Group Trading Up 1.8%

Shares of MTNOY stock traded up $0.24 on Tuesday, reaching $14.05. 34,002 shares of the company were exchanged, compared to its average volume of 14,575. MTN Group has a 1 year low of $7.71 and a 1 year high of $14.67. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $13.40 and a 200 day moving average price of $12.26.

MTN Group Company Profile

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.