MTN Group Ltd. (OTCMKTS:MTNOY) Short Interest Up 692.0% in May

MTN Group Ltd. (OTCMKTS:MTNOY) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 30,565 shares, a growth of 692.0% from the April 30th total of 3,859 shares. Based on an average trading volume of 26,568 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.0% of the shares of the company are sold short.

Analysts Set New Price Targets

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

MTN Group Stock Up 0.6%

Shares of MTNOY opened at $12.94 on Thursday. MTN Group has a 1 year low of $6.89 and a 1 year high of $13.32. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.94 and a quick ratio of 0.93. The stock has a 50 day simple moving average of $12.30 and a 200-day simple moving average of $11.27.

MTN Group Company Profile

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.