Vodacom Group Limited (OTCMKTS:VDMCY) Sees Significant Drop in Short Interest

Vodacom Group Limited (OTCMKTS:VDMCY) saw a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 18,863 shares, a drop of 50.7% from the May 14th total of 38,270 shares. Based on an average daily trading volume, of 83,145 shares, the days-to-cover ratio is currently 0.2 days.

Vodacom Group Trading Down 1.0%

Shares of OTCMKTS:VDMCY opened at $9.26 on Friday. The company’s 50-day moving average price is $9.12 and its 200 day moving average price is $9.01. Vodacom Group has a fifty-two week low of $7.25 and a fifty-two week high of $10.91.

Analysts Set New Price Targets

Separately, UBS Group started coverage on shares of Vodacom Group in a research report on Monday, March 23rd. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Vodacom Group Company Profile

Vodacom Group Limited is a leading African mobile communications company offering a comprehensive range of voice, messaging, data and financial services. The company serves both consumer and enterprise markets, delivering mobile voice and data networks alongside digital solutions such as cloud computing, Internet of Things (IoT) connectivity and mobile financial services. Vodacom’s product portfolio includes prepaid and contract mobile plans, broadband internet services and a suite of digital applications designed to support e-commerce, health and educational initiatives across its markets.

Headquartered in Johannesburg, South Africa, Vodacom operates across multiple countries in sub-Saharan Africa, including South Africa, Tanzania, the Democratic Republic of the Congo, Mozambique and Kenya, with additional presence through partner networks in Lesotho and other regions.