Airtel Africa (OTC:AAFRF) Shares Down 9% – Should You Sell?

Airtel Africa Plc (OTC:AAFRF)’s stock price was down 9% during trading on Wednesday . The company traded as low as C$4.55 and last traded at C$4.55. Approximately 2,200 shares were traded during trading, a decline of 95% from the average daily volume of 43,293 shares. The stock had previously closed at C$5.00.

Wall Street Analyst Weigh In

Separately, HSBC cut shares of Airtel Africa from a “buy” rating to a “hold” rating in a report on Tuesday, January 13th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Airtel Africa currently has a consensus rating of “Moderate Buy”.

Airtel Africa Trading Down 9.0%

The firm’s 50-day moving average price is C$4.57 and its 200 day moving average price is C$3.67.

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.