Meituan (OTCMKTS:MPNGF) Sees Large Drop in Short Interest

Meituan (OTCMKTS:MPNGF) was the recipient of a significant decline in short interest in June. As of June 30th, there was short interest totaling 3,270,279 shares, a decline of 52.4% from the June 15th total of 6,871,544 shares. Based on an average daily trading volume, of 14,954 shares, the short-interest ratio is currently 218.7 days.

Analyst Ratings Changes

Separately, Citigroup raised shares of Meituan to a “buy” rating in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Meituan presently has an average rating of “Hold” and a consensus target price of $10.00.

Meituan Stock Performance

MPNGF remained flat at $9.62 during trading on Wednesday. The company’s stock had a trading volume of 700 shares, compared to its average volume of 10,451. Meituan has a one year low of $8.20 and a one year high of $18.30. The stock’s 50-day moving average price is $9.80 and its 200 day moving average price is $10.75.

About Meituan

Meituan is a leading Chinese technology-driven platform that facilitates on-demand delivery and local services through its mobile application and website. The company offers a wide range of services, including food delivery, in-store dining, grocery and fresh produce delivery, ride sharing, and hotel and travel bookings. Leveraging an extensive network of local merchants and service providers, Meituan connects millions of users with convenient, real-time access to everyday services and experiences across urban and suburban communities in Mainland China.

Founded in June 2010 by serial internet entrepreneur Wang Xing, Meituan originally launched as a group-buying platform before expanding its offerings to encompass multiple verticals in the online-to-offline (O2O) economy.