Airtel Africa (OTC:AAFRF) Trading Down 4% – What’s Next?

Airtel Africa Plc (OTC:AAFRF) dropped 4% during mid-day 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 mid-day trading, a decline of 99% from the average daily volume of 26,507 shares. The stock had previously closed at C$4.75.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AAFRF. HSBC cut shares of Airtel Africa from a “buy” rating to a “hold” rating in a report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Airtel Africa in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Airtel Africa has a consensus rating of “Moderate Buy”.

Airtel Africa Stock Down 4.0%

The business has a fifty day moving average of C$4.72 and a 200 day moving average of C$3.89.

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.