MTN Group (OTCMKTS:MTNOY) Trading Down 2.4% - Should You Sell?

Key Points

• MTN Group's stock price fell by 2.4%, closing at $9.34, with trading volume down by 40% compared to average daily volume.
• Barclays has issued an underweight rating on the stock, while Citigroup upgraded it to a strong-buy, resulting in a current average rating of Moderate Buy.
• The company operates in the telecommunications sector across various regions, offering services including data, voice, and fintech solutions.

MTN Group Ltd. (OTCMKTS:MTNOY - Get Free Report)'s stock price was down 2.4% during trading on Thursday . The stock traded as low as $9.34 and last traded at $9.34. Approximately 27,110 shares traded hands during trading, a decline of 40% from the average daily volume of 45,193 shares. The stock had previously closed at $9.56.

Wall Street Analyst Weigh In

MTNOY has been the subject of several research reports. Barclays reissued an "underweight" rating on shares of MTN Group in a report on Friday, August 29th. Citigroup upgraded shares of MTN Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy".

MTN Group Trading Down 2.4%

The business's 50-day simple moving average is $8.56 and its 200 day simple moving average is $7.59.

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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