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

MTN Group Ltd. (OTCMKTS:MTNOY) was the recipient of a large growth in short interest in 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 daily volume of 26,568 shares, the short-interest ratio is currently 1.2 days. Approximately 0.0% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

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

MTN Group Stock Up 0.6%

OTCMKTS MTNOY opened at $12.94 on Thursday. The stock has a fifty day moving average of $12.30 and a 200-day moving average of $11.27. MTN Group has a 52 week low of $6.89 and a 52 week 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.

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.