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MTN Group Ltd. (OTCMKTS:MTNOY) Short Interest Up 372.0% in September

MTN Group logo with Computer and Technology background

Key Points

  • MTN Group Ltd. experienced a significant increase in short interest of 372.0% in September, rising to a total of 23,600 shares from 5,000 shares at the end of August.
  • Analyst ratings are mixed, with Citigroup upgrading MTN Group to a strong-buy and Barclays maintaining an underweight rating, resulting in an average rating of Moderate Buy.
  • As of now, MTN Group's stock price is at $8.53, with a 12-month range between $4.34 and $9.92, and an average daily trading volume of 30,706 shares.
  • Interested in MTN Group? Here are five stocks we like better.

MTN Group Ltd. (OTCMKTS:MTNOY - Get Free Report) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 23,600 shares, an increase of 372.0% from the August 31st total of 5,000 shares. Based on an average daily volume of 37,400 shares, the short-interest ratio is presently 0.6 days. Based on an average daily volume of 37,400 shares, the short-interest ratio is presently 0.6 days.

Analysts Set New Price Targets

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

Check Out Our Latest Analysis on MTN Group

MTN Group Price Performance

OTCMKTS:MTNOY traded up $0.18 during trading hours on Wednesday, reaching $8.53. The company's stock had a trading volume of 19,615 shares, compared to its average volume of 30,706. MTN Group has a 12 month low of $4.34 and a 12 month high of $9.92. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a 50 day moving average price of $8.47 and a two-hundred day moving average price of $7.42.

MTN Group Company Profile

(Get Free Report)

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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