MTN Group (OTCMKTS:MTNOY) Shares Gap Down – Should You Sell?

MTN Group Ltd. (OTCMKTS:MTNOY)’s share price gapped down before the market opened on Friday . The stock had previously closed at $11.98, but opened at $11.3525. MTN Group shares last traded at $11.3525, with a volume of 284 shares traded.

Wall Street Analyst Weigh In

Separately, UBS Group started coverage on MTN Group in a research note on Monday, March 23rd. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

MTN Group Stock Performance

The stock’s 50 day moving average is $11.77 and its two-hundred day moving average is $10.24.

About MTN Group

MTN Group (OTCMKTS: MTNOY) is a multinational telecommunications company headquartered in Johannesburg, South Africa. Founded in the mid-1990s as Mobile Telephone Networks, the company has grown into one of the largest mobile network operators serving consumers, businesses and governments across Africa and the Middle East. MTN is listed on the Johannesburg Stock Exchange and also trades over‑the‑counter in the United States under the symbol MTNOY.

The company’s core activities include mobile voice and data services, fixed‑line and broadband offerings, and enterprise solutions such as cloud, connectivity and managed services.