Airtel Africa (OTC:AAFRF) Shares Down 9% – What’s Next?

Airtel Africa Plc (OTC:AAFRF)’s share price fell 9% during trading on Wednesday . The stock traded as low as C$4.55 and last traded at C$4.55. 2,200 shares traded hands during trading, a decline of 95% from the average session volume of 43,293 shares. The stock had previously closed at C$5.00.

Analysts Set New Price Targets

Separately, HSBC lowered shares of Airtel Africa from a “buy” rating to a “hold” rating in a research note on Tuesday, January 13th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Airtel Africa currently has an average rating of “Moderate Buy”.

Airtel Africa Price Performance

The company’s 50-day moving average price is C$4.57 and its two-hundred day moving average price is C$3.67.

Airtel Africa Company Profile

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. The company also provides messaging, value added, enterprise, and infrastructure sharing services, as well as support services.