MTN Group Ltd. (OTCMKTS:MTNOY) Sees Significant Decline in Short Interest

MTN Group Ltd. (OTCMKTS:MTNOY) was the recipient of a large decline in short interest in the month of June. As of June 15th, there was short interest totaling 6,380 shares, a decline of 81.7% from the May 31st total of 34,802 shares. Based on an average trading volume of 42,315 shares, the short-interest ratio is presently 0.2 days. Currently, 0.0% of the shares of the company are short sold.

MTN Group Stock Performance

Shares of MTNOY stock traded down $0.19 during trading hours on Friday, reaching $13.72. 10,883 shares of the company traded hands, compared to its average volume of 16,690. 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. The firm has a 50-day moving average price of $13.05 and a 200 day moving average price of $11.87.

Wall Street Analysts Forecast Growth

Separately, UBS Group assumed coverage on MTN Group in a research note on Monday, March 23rd. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

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.