MTN Group (OTCMKTS:MTNOY) Shares Gap Up - Here's What Happened

Key Points

• MTN Group shares experienced a notable gap up before trading on Wednesday, opening at $9.38 after closing the previous day at $8.88.
• Analysts have mixed sentiments on the stock, with Citigroup upgrading MTN Group to a "strong-buy" rating, while Barclays maintains an "underweight" rating.
• MTN Group operates in multiple regions including South Africa, Nigeria, and the Middle East, providing various mobile telecommunications services.

MTN Group Ltd. (OTCMKTS:MTNOY - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $8.88, but opened at $9.38. MTN Group shares last traded at $9.45, with a volume of 1,053 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays restated an "underweight" rating on shares of MTN Group in a research report on Friday, August 29th. Citigroup upgraded MTN Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. One 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".

MTN Group Stock Performance

The company's 50-day simple moving average is $8.55 and its 200 day simple moving average is $7.56.

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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