MTN Group (OTCMKTS:MTNOY) Sees Strong Trading Volume – Should You Buy?

MTN Group Ltd. (OTCMKTS:MTNOY) shares saw unusually-strong trading volume on Monday . Approximately 45,653 shares changed hands 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 Analysts Forecast Growth

Separately, UBS Group started coverage on shares of 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 Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

MTN Group Trading Up 1.6%

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.93 and a current ratio of 0.94. The stock’s 50 day simple moving average is $12.52 and its two-hundred day simple moving average is $11.45.

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.