MTN Group Ltd. (OTCMKTS:MTNOY) Short Interest Update

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

MTN Group Stock Performance

Shares of MTNOY stock traded down $0.10 during trading on Wednesday, reaching $13.95. The company’s stock had a trading volume of 8,560 shares, compared to its average volume of 14,491. MTN Group has a 1-year low of $7.75 and a 1-year high of $14.67. The stock’s 50-day moving average price is $13.40 and its 200 day moving average price is $12.26. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.31.

Analysts Set New Price Targets

Separately, UBS Group assumed coverage on MTN Group in a report on Monday, March 23rd. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, MTN Group currently has a consensus 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.