Airtel Africa (OTC:AAFRF) Trading Down 4% – Time to Sell?

Airtel Africa Plc (OTC:AAFRF)’s stock price was down 4% during trading on Friday . The company traded as low as C$4.56 and last traded at C$4.56. Approximately 370 shares traded hands during trading, a decline of 99% from the average daily volume of 26,507 shares. The stock had previously closed at C$4.75.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. HSBC cut Airtel Africa from a “buy” rating to a “hold” rating in a report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Airtel Africa in a research note on Wednesday, February 4th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Airtel Africa Stock Down 4.0%

The company has a 50-day moving average price of C$4.72 and a 200 day moving average price of C$3.89.

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