MTN Group (OTCMKTS:MTNOY) Shares Gap Down – What’s Next?

MTN Group Ltd. (OTCMKTS:MTNOY) shares gapped down prior to trading on Friday . The stock had previously closed at $11.98, but opened at $11.3525. MTN Group shares last traded at $11.3525, with a volume of 284 shares trading hands.

Wall Street Analyst Weigh In

Separately, UBS Group assumed coverage on MTN Group in a report on Monday. They set a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

MTN Group Trading Down 2.9%

The stock has a fifty day moving average price of $11.76 and a 200-day moving average price of $10.20.

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.