The stock of MNF Group Ltd (ASX:MNF) hit a new 52-week high and has $10.88 target or 118.00% above today’s $4.99 share price. The 9 months bullish chart indicates low risk for the $338.73 million company. The 1-year high was reported on Oct, 31 by Barchart.com. If the $10.88 price target is reached, the company will be worth $399.70 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 1.42% or $0.07 on October 31, hitting $4.99. About 64,729 shares traded hands. MNF Group Ltd (ASX:MNF) has risen 42.98% since April 4, 2016 and is uptrending. It has outperformed by 39.51% the S&P500.
More important recent MNF Group Ltd (ASX:MNF) news were published by: Fool.com.Au which released: “Why the MNF Group Ltd share price is climbing higher today” on August 16, 2016, also Fool.com.Au published article titled: “Does MNF Group Ltd’s deal with Telstra Corporation Ltd make it a buy?”, Fool.com.Au published: “MNF Group Ltd & Dubber Corp Ltd offer customers new cloud service” on September 29, 2016. More interesting news about MNF Group Ltd (ASX:MNF) was released by: Fool.com.Au and their article: “MNF Group Ltd positions for global growth” with publication date: February 17, 2016.
MNF Group Limited, formerly My Net Fone Limited, is engaged in providing voice communications, broadband Internet, and cloud communications services to residential, business, government and wholesale customers. The company has a market cap of $338.73 million. The Firm also sells hardware, equipment and consulting services to support the primary products of the business. It has a 37.28 P/E ratio.
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