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

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 recipient of a large decline in short interest in August. As of August 31st, there was short interest totaling 5,000 shares, a decline of 87.6% from the August 15th total of 40,200 shares. Currently, 0.0% of the company's stock are short sold. Based on an average trading volume of 37,600 shares, the short-interest ratio is presently 0.1 days. Based on an average trading volume of 37,600 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the company's stock are short sold.

MTN Group Price Performance

MTN Group stock traded up $0.45 during mid-day trading on Tuesday, reaching $8.62. 8,924 shares of the company traded hands, compared to its average volume of 17,771. The firm's fifty day moving average is $8.46 and its two-hundred day moving average is $7.29. MTN Group has a fifty-two week low of $4.34 and a fifty-two week high of $9.92. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.48.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Barclays reiterated an "underweight" rating on shares of MTN Group in a research note on Friday, August 29th. Citigroup raised shares of MTN Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. One equities research 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, the stock has an average rating of "Moderate Buy".

MTN Group Company Profile

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.