Airtel Africa (LON:AAF) Trading Down 8.4% – Here’s Why

Airtel Africa Plc (LON:AAF) shares traded down 8.4% during mid-day trading on Thursday . The stock traded as low as GBX 151.90 ($2.01) and last traded at GBX 156 ($2.07). Approximately 10,326,306 shares were traded during trading, a decline of 5% from the average session volume of 10,866,079 shares. The stock had previously closed at GBX 170.30 ($2.26).

Airtel Africa Stock Performance

The business has a fifty day moving average of GBX 158.32 and a 200 day moving average of GBX 132.28. The company has a market cap of £7.32 billion, a P/E ratio of -93.94, a P/E/G ratio of 0.58 and a beta of 1.04. The company has a quick ratio of 0.26, a current ratio of 0.47 and a debt-to-equity ratio of 275.30.

Insiders Place Their Bets

In other news, insider Sunil Bharti Mittal bought 163,582,576 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was purchased at an average price of GBX 132 ($1.75) per share, with a total value of £215,929,000.32 ($286,074,457.23). Company insiders own 72.58% of the company’s stock.

Airtel Africa Company Profile

Airtel Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa.
Airtel Africa offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services both nationally and internationally.
The Group aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.