Airtel Africa (LON:AAF) Trading 1.2% Higher

Airtel Africa Plc (LON:AAF) shares shot up 1.2% during mid-day trading on Wednesday . The company traded as high as GBX 105.40 ($1.31) and last traded at GBX 104.60 ($1.30). 2,311,465 shares changed hands during trading, a decline of 16% from the average session volume of 2,737,910 shares. The stock had previously closed at GBX 103.40 ($1.29).

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AAF. Barclays lowered their price objective on Airtel Africa from GBX 170 ($2.12) to GBX 150 ($1.87) and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. JPMorgan Chase & Co. lowered their price objective on Airtel Africa from GBX 130 ($1.62) to GBX 93 ($1.16) and set a “neutral” rating on the stock in a research report on Tuesday, February 20th.

Airtel Africa Trading Up 0.9 %

The business has a 50-day moving average price of GBX 99.37 and a 200-day moving average price of GBX 112.10. The company has a quick ratio of 0.26, a current ratio of 0.58 and a debt-to-equity ratio of 156.18. The firm has a market capitalization of £4.04 billion, a P/E ratio of 1,545.99, a PEG ratio of 0.58 and a beta of 1.01.

Insider Activity at Airtel Africa

In related news, insider Shravin Bharti Mittal purchased 922 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average price of GBX 100 ($1.24) per share, with a total value of £922 ($1,147.77). 72.85% of the stock is owned by insiders.

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.