Airtel Africa (LON:AAF) Reaches New 12-Month High – Here’s What Happened

Airtel Africa Plc (LON:AAF)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as GBX 148.20 ($1.85) and last traded at GBX 148.10 ($1.84), with a volume of 3492326 shares. The stock had previously closed at GBX 144.40 ($1.80).

Wall Street Analyst Weigh In

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

Airtel Africa Price Performance

The company has a debt-to-equity ratio of 180.85, a quick ratio of 0.26 and a current ratio of 0.52. The company has a 50-day moving average price of GBX 120.04 and a 200-day moving average price of GBX 113.82. The firm has a market capitalization of £5.42 billion, a P/E ratio of -4,899.13, a price-to-earnings-growth ratio of 0.58 and a beta of 1.04.

Insiders Place Their Bets

In other news, insider Shravin Bharti Mittal bought 804,887 shares of the stock in a transaction on Wednesday, November 20th. The stock was purchased at an average price of GBX 96 ($1.20) per share, with a total value of £772,691.52 ($962,136.12). Over the last quarter, insiders have purchased 16,493,062 shares of company stock worth $1,719,710,302. Insiders own 72.58% of the company’s stock.

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.