MTN Group (OTCMKTS:MTNOY) Sees Strong Trading Volume – Here’s Why

MTN Group Ltd. (OTCMKTS:MTNOY) shares saw an uptick in trading volume on Wednesday . 26,858 shares were traded during mid-day trading, an increase of 99% from the previous session’s volume of 13,515 shares.The stock last traded at $13.25 and had previously closed at $12.9670.

Analyst Upgrades and Downgrades

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

MTN Group Price Performance

The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average price is $12.06 and its 200 day moving average price is $10.93.

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.