Airtel Africa (LON:AAF) Sets New 12-Month High – What’s Next?

Shares of Airtel Africa Plc (LON:AAF) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 130.87 ($1.63) and last traded at GBX 129 ($1.61), with a volume of 415799719 shares. The stock had previously closed at GBX 126 ($1.57).

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. lifted their price objective on Airtel Africa from GBX 121 ($1.51) to GBX 128 ($1.59) and gave the stock a “buy” rating in a report on Wednesday, December 11th.

Airtel Africa Stock Up 0.7 %

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 firm has a 50-day simple moving average of GBX 110.66 and a two-hundred day simple moving average of GBX 111.98. The company has a market cap of £4.80 billion, a PE ratio of -4,340.00, a P/E/G ratio of 0.58 and a beta of 1.04.

Insiders Place Their Bets

In related news, insider Shravin Bharti Mittal purchased 15,000,000 shares of the company’s stock in a transaction on Friday, December 27th. The stock was bought at an average price of GBX 105 ($1.31) per share, with a total value of £15,750,000 ($19,596,864.50). Over the last 90 days, insiders purchased 16,493,062 shares of company stock valued at $1,719,710,302. Corporate insiders own 72.58% of the company’s stock.

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.