Short Interest in Airtel Africa Plc (OTCMKTS:AAFRF) Drops By 41.2%

Airtel Africa Plc (OTCMKTS:AAFRF) was the target of a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 206,436 shares, a decrease of 41.2% from the July 15th total of 350,915 shares. Based on an average trading volume of 24,694 shares, the short-interest ratio is currently 8.4 days.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Airtel Africa in a report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Airtel Africa Stock Up 2.2%

Shares of AAFRF opened at C$4.70 on Tuesday. Airtel Africa has a twelve month low of C$2.90 and a twelve month high of C$5.85. The stock’s fifty day simple moving average is C$4.65 and its 200 day simple moving average is C$4.72.

Airtel Africa Company Profile

Airtel Africa Plc, together with its subsidiaries, provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa. It offers prepaid and postpaid wireless voice, international roaming, and fixed line telephone services; data communication services, including 2G, 3G, and 4G; and mobile money services, such as digital wallet payments systems, microloans, savings, and international money transfers. The company also provides messaging, value added, enterprise, and infrastructure sharing services, as well as support services.