MTN Group (OTCMKTS:MTNOY) Shares Gap Down - Time to Sell?

Key Points

• Shares gapped down: MTN opened at $11.3525 after closing at $11.98, last traded at $11.3525 on light volume (284 shares) and was down about 2.9%; its 50‑day MA is $11.76 and 200‑day MA $10.20.
• Analyst outlook: UBS started coverage with a "Buy," and the broker consensus is one Strong Buy, one Buy and one Sell, giving an average rating of "Moderate Buy."
• Company profile: MTN is a Johannesburg‑based multinational telecom serving Africa and the Middle East, listed on the JSE and trading OTC in the U.S. as MTNOY.

MTN Group Ltd. (OTCMKTS:MTNOY - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $11.98, but opened at $11.3525. MTN Group shares last traded at $11.3525, with a volume of 284 shares changing hands.

Analyst Ratings Changes

Separately, UBS Group started coverage on shares of MTN Group in a research report on Monday. They set a "buy" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy".

MTN Group Trading Down 2.9%

The stock's 50 day moving average price is $11.76 and its 200 day moving average price is $10.20.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.