Short Interest in Airtel Africa Plc (OTCMKTS:AAFRF) Declines By 39.0%

Airtel Africa Plc (OTCMKTS:AAFRF) was the recipient of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 285,402 shares, a drop of 39.0% from the May 14th total of 468,245 shares. Based on an average daily volume of 3,277 shares, the days-to-cover ratio is currently 87.1 days.

Airtel Africa Price Performance

Shares of OTCMKTS AAFRF opened at C$4.90 on Wednesday. The firm has a fifty day simple moving average of C$4.80 and a 200 day simple moving average of C$4.72. Airtel Africa has a twelve month low of C$2.25 and a twelve month high of C$5.85.

Wall Street Analyst Weigh In

AAFRF has been the subject of several analyst reports. Barclays reaffirmed an “overweight” rating on shares of Airtel Africa in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Airtel Africa in a research note on Tuesday, May 19th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

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.