Airtel Africa (OTCMKTS:AAFRF) Shares Up 3.8% – Here’s What Happened

Airtel Africa Plc (OTCMKTS:AAFRF)’s stock price shot up 3.8% during mid-day trading on Wednesday . The stock traded as high as C$4.69 and last traded at C$4.69. Approximately 5,398 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 11,291 shares. The stock had previously closed at C$4.52.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AAFRF shares. Barclays reissued an “overweight” rating on shares of Airtel Africa in a research report on Friday, April 10th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Airtel Africa in a research note on Tuesday, May 19th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Airtel Africa Stock Up 3.8%

The firm’s 50 day moving average is C$4.78 and its 200-day moving average is C$4.79.

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.