Short Interest in MTN Group Ltd. (OTCMKTS:MTNOY) Rises By 129.9%

MTN Group Ltd. (OTCMKTS:MTNOY) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 14,665 shares, a growth of 129.9% from the June 15th total of 6,380 shares. Based on an average trading volume of 22,692 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, UBS Group initiated coverage on MTN Group in a research report on Monday, March 23rd. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

MTN Group Stock Up 1.8%

MTNOY traded up $0.24 on Tuesday, reaching $14.05. The stock had a trading volume of 34,002 shares, compared to its average volume of 14,575. The business’s 50-day moving average price is $13.40 and its two-hundred day moving average price is $12.26. MTN Group has a 12-month low of $7.71 and a 12-month high of $14.67. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.31.

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.