MTN Group (OTCMKTS:MTNOY) Sees Unusually-High Trading Volume – Time to Buy?

MTN Group Ltd. (OTCMKTS:MTNOY) shares saw unusually-high trading volume on Thursday . Approximately 10,015 shares traded hands during trading, a decline of 30% from the previous session’s volume of 14,353 shares.The stock last traded at $12.30 and had previously closed at $12.28.

Analyst Upgrades and Downgrades

Separately, UBS Group initiated coverage on shares of MTN Group in a research report on Monday, March 23rd. They set a “buy” rating on the stock. One investment 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. Based on data from MarketBeat, MTN Group has a consensus rating of “Moderate Buy”.

MTN Group Price Performance

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 company has a fifty day simple moving average of $12.01 and a two-hundred day simple moving average of $10.73.

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.