Airtel Africa (OTCMKTS:AAFRF) Trading 7.6% Higher – Time to Buy?

Airtel Africa Plc (OTCMKTS:AAFRF) traded up 7.6% on Wednesday . The company traded as high as C$4.95 and last traded at C$4.95. 510 shares changed hands during trading, a decline of 97% from the average session volume of 17,771 shares. The stock had previously closed at C$4.60.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Barclays reaffirmed an “overweight” rating on shares of Airtel Africa in a research note on Friday. HSBC downgraded shares of Airtel Africa from a “buy” rating to a “hold” rating in a research note on Tuesday, January 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Airtel Africa in a research note on Wednesday, February 4th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Airtel Africa presently has a consensus rating of “Moderate Buy”.

Airtel Africa Trading Up 1.9%

The stock’s 50 day simple moving average is C$4.76 and its two-hundred day simple moving average is C$4.32.

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.