MTN Group (OTCMKTS:MTNOY) Sees Unusually-High Trading Volume – Here’s Why

Shares of MTN Group Ltd. (OTCMKTS:MTNOY) saw strong trading volume on Monday . 45,653 shares were traded during mid-day trading, an increase of 218% from the previous session’s volume of 14,370 shares.The stock last traded at $12.98 and had previously closed at $12.75.

Wall Street Analyst Weigh In

Separately, UBS Group initiated coverage on shares of MTN Group in a research report on Monday, March 23rd. They set a “buy” rating for the company. One 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

MTN Group Price Performance

The firm has a 50 day moving average price of $12.58 and a two-hundred day moving average price of $11.49. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.93 and a current ratio of 0.94.

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.