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

MTN Group Ltd. (OTCMKTS:MTNOY) shares saw an uptick in trading volume on Tuesday . Approximately 22,735 shares were traded during mid-day trading, an increase of 58% from the previous session’s volume of 14,378 shares.The stock last traded at $13.99 and had previously closed at $13.8080.

Analysts Set New Price Targets

Separately, UBS Group assumed coverage on MTN Group in a research report on Monday, March 23rd. They set a “buy” rating for the company. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

MTN Group Stock Performance

The firm has a 50 day moving average price of $13.42 and a 200-day moving average price of $12.29. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.31.

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.