MTN Group (OTCMKTS:MTNOY) Sees Unusually-High Trading Volume – Still a Buy?

MTN Group Ltd. (OTCMKTS:MTNOY) shares saw unusually-strong trading volume on Tuesday . Approximately 51,057 shares changed hands during trading, an increase of 270% from the previous session’s volume of 13,794 shares.The stock last traded at $12.4850 and had previously closed at $12.49.

Analyst Ratings Changes

Separately, UBS Group started coverage on MTN Group in a research note 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

MTN Group Stock Down 0.6%

The firm has a 50 day simple moving average of $12.17 and a 200-day simple moving average of $11.19. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.93 and a current ratio of 0.94.

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.