Vodacom Group (OTCMKTS:VDMCY) Trading Down 1.4% – Here’s Why

Shares of Vodacom Group Limited (OTCMKTS:VDMCY) fell 1.4% during mid-day trading on Tuesday . The stock traded as low as $8.86 and last traded at $8.87. 32,626 shares were traded during trading, a decline of 8% from the average session volume of 35,578 shares. The stock had previously closed at $9.00.

Analysts Set New Price Targets

Separately, UBS Group began coverage on shares of Vodacom Group in a report on Monday, March 23rd. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Vodacom Group Stock Down 1.4%

The company’s fifty day simple moving average is $9.31 and its 200-day simple moving average is $8.70.

Vodacom Group Company Profile

Vodacom Group Limited is a leading African mobile communications company offering a comprehensive range of voice, messaging, data and financial services. The company serves both consumer and enterprise markets, delivering mobile voice and data networks alongside digital solutions such as cloud computing, Internet of Things (IoT) connectivity and mobile financial services. Vodacom’s product portfolio includes prepaid and contract mobile plans, broadband internet services and a suite of digital applications designed to support e-commerce, health and educational initiatives across its markets.

Headquartered in Johannesburg, South Africa, Vodacom operates across multiple countries in sub-Saharan Africa, including South Africa, Tanzania, the Democratic Republic of the Congo, Mozambique and Kenya, with additional presence through partner networks in Lesotho and other regions.