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

Airtel Africa Plc (LON:AAF) shares hit a new 52-week high on Wednesday . The stock traded as high as GBX 160.10 ($2.08) and last traded at GBX 159.30 ($2.07), with a volume of 155540109 shares traded. The stock had previously closed at GBX 154.70 ($2.01).

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. boosted their price target on shares of Airtel Africa from GBX 121 ($1.57) to GBX 128 ($1.66) and gave the stock a “buy” rating in a research report on Wednesday, December 11th.

Airtel Africa Stock Up 3.0 %

The company has a 50 day simple moving average of GBX 138.04 and a two-hundred day simple moving average of GBX 119.79. The company has a quick ratio of 0.26, a current ratio of 0.47 and a debt-to-equity ratio of 275.30. The company has a market capitalization of £7.30 billion, a P/E ratio of -93.71, a PEG ratio of 0.58 and a beta of 1.04.

Insider Buying and Selling

In other news, insider Shravin Bharti Mittal acquired 15,000,000 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was acquired at an average price of GBX 105 ($1.37) per share, with a total value of £15,750,000 ($20,475,819.03). Also, insider Sunil Bharti Mittal acquired 163,582,576 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was purchased at an average cost of GBX 132 ($1.72) per share, with a total value of £215,929,000.32 ($280,718,929.17). 72.58% of the stock is owned by corporate insiders.

Airtel Africa Company Profile

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.