Airtel Africa (LON:AAF) Sets New 52-Week High – What’s Next?

Shares of Airtel Africa Plc (LON:AAF) reached a new 52-week high on Wednesday . The stock traded as high as GBX 129 ($1.59) and last traded at GBX 128.80 ($1.59), with a volume of 9207708 shares trading hands. The stock had previously closed at GBX 127 ($1.57).

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upped their price objective on shares of Airtel Africa from GBX 121 ($1.49) to GBX 128 ($1.58) and gave the stock a “buy” rating in a research note on Wednesday, December 11th.

Airtel Africa Stock Performance

The company has a debt-to-equity ratio of 180.85, a current ratio of 0.52 and a quick ratio of 0.26. The company has a market cap of £4.70 billion, a PE ratio of -4,243.33, a price-to-earnings-growth ratio of 0.58 and a beta of 1.04. The business has a fifty day simple moving average of GBX 109.38 and a two-hundred day simple moving average of GBX 111.86.

Insider Buying and Selling

In other news, insider Shravin Bharti Mittal acquired 688,175 shares of Airtel Africa stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average price of GBX 98 ($1.21) per share, for a total transaction of £674,411.50 ($833,018.16). Insiders purchased 16,493,062 shares of company stock worth $1,719,710,302 in the last three months. 72.58% of the stock is owned by insiders.

About Airtel Africa

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.