Airtel Africa (OTC:AAFRF) Shares Down 4.2% – What’s Next?

Shares of Airtel Africa Plc (OTC:AAFRF) dropped 4.2% during mid-day trading on Friday . The stock traded as low as C$3.00 and last traded at C$3.00. Approximately 103 shares changed hands during trading, a decline of 98% from the average daily volume of 5,845 shares. The stock had previously closed at C$3.13.

Wall Street Analyst Weigh In

AAFRF has been the subject of several recent analyst reports. Barclays restated an “overweight” rating on shares of Airtel Africa in a research report on Friday, August 29th. HSBC upgraded shares of Airtel Africa from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy”.

Airtel Africa Price Performance

The company’s 50-day moving average is C$2.86 and its 200-day moving average is C$2.50.

About Airtel Africa

Airtel Africa Plc, together with its subsidiaries, provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa. It offers prepaid and postpaid wireless voice, international roaming, and fixed line telephone services; data communication services, including 2G, 3G, and 4G; and mobile money services, such as digital wallet payments systems, microloans, savings, and international money transfers.