MTN Group (OTCMKTS:MTNOY) Sees Large Volume Increase – Here’s What Happened

MTN Group Ltd. (OTCMKTS:MTNOY) shares saw unusually-strong trading volume on Monday . Approximately 45,653 shares were traded during trading, an increase of 218% from the previous session’s volume of 14,370 shares.The stock last traded at $12.98 and had previously closed at $12.75.

Analysts Set New Price Targets

Separately, UBS Group started coverage on shares of MTN Group in a research note on Monday, March 23rd. They set a “buy” rating on the stock. 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

MTN Group Trading Up 1.6%

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 business’s 50 day moving average price is $12.52 and its 200-day moving average price is $11.45.

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.