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

Key Points

• MTN Group Ltd. experienced a significant decline in short interest in August, with shares short dropping by 87.6% from 40,200 to 5,000 shares.
• Citigroup upgraded MTN Group from a "hold" rating to a "strong buy," while Barclays maintained an "underweight" rating, reflecting a mixed outlook among analysts.
• As of trading on Thursday, MTN Group shares rose to $7.97, with a 1-year trading range between $4.34 and $9.92.

MTN Group Ltd. (OTCMKTS:MTNOY - Get Free Report) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 5,000 shares, a decrease of 87.6% from the August 15th total of 40,200 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 37,600 shares, the short-interest ratio is presently 0.1 days. Based on an average daily trading volume, of 37,600 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MTNOY shares. Citigroup upgraded MTN Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Barclays restated an "underweight" rating on shares of MTN Group in a report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

MTN Group Stock Performance

Shares of MTNOY stock traded up $0.03 during trading on Thursday, reaching $7.97. The company's stock had a trading volume of 6,833 shares, compared to its average volume of 32,512. MTN Group has a 1-year low of $4.34 and a 1-year high of $9.92. The stock's 50-day moving average price is $8.45 and its 200 day moving average price is $7.24. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.48.

About MTN Group

MTN Group Limited, together with its subsidiaries, provides mobile telecommunications services in South Africa, Nigeria, East Africa, West and Central Africa, and the Middle East and North Africa. The company offers data, voice and SMS, digital and fintech, interconnect, and roaming services, as well as sells mobile devices.

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