MTN Group (OTCMKTS:MTNOY) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• MTN Group Ltd. experienced a **179% increase** in trading volume with approximately **92,121 shares** changing hands, closing at **$8.11** after a drop from **$8.47**.
• Analyst ratings have varied, with Barclays maintaining an **"underweight" rating**, while Citigroup upgraded the stock to a **"strong-buy" rating**, leaving the overall average at a **"Moderate Buy."**
• The company's stock is currently down **3.5%**, with key financial metrics showing a **debt-to-equity ratio of 0.48** and a **current ratio of 0.95**.

Shares of MTN Group Ltd. (OTCMKTS:MTNOY - Get Free Report) saw strong trading volume on Tuesday . 92,121 shares traded hands during mid-day trading, an increase of 179% from the previous session's volume of 33,041 shares.The stock last traded at $8.11 and had previously closed at $8.47.

Wall Street Analyst Weigh In

Several analysts have issued reports on MTNOY shares. Barclays reissued an "underweight" rating on shares of MTN Group in a report on Friday, August 29th. Citigroup raised MTN Group from a "hold" rating to a "strong-buy" rating in a research note 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 company's stock. Based on data from MarketBeat, MTN Group currently has an average rating of "Moderate Buy".

MTN Group Stock Performance

The company has a 50-day moving average price of $8.45 and a 200-day moving average price of $7.19. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.95 and a quick ratio of 0.95.

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.