MTN Group (OTCMKTS:MTNOY) Shares Gap Up – Here’s What Happened

MTN Group Ltd. (OTCMKTS:MTNOY)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $12.72, but opened at $13.40. MTN Group shares last traded at $13.44, with a volume of 7,215 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, UBS Group began coverage on shares of MTN Group in a 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy”.

MTN Group Trading Up 6.4%

The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.31. The firm’s fifty day moving average is $12.61 and its 200 day moving average is $11.51.

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.