Melco International Development Ltd. (OTCMKTS:MDEVF) Short Interest Update

Melco International Development Ltd. (OTCMKTS:MDEVF) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 932,260 shares, a growth of 70.0% from the August 15th total of 548,260 shares. Based on an average daily volume of 11,654 shares, the short-interest ratio is presently 80.0 days. Approximately 0.1% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Separately, CICC Research cut shares of Melco International Development to a “market perform” rating in a research report on Sunday, August 16th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Melco International Development has an average rating of “Hold”.

Melco International Development Price Performance

Shares of Melco International Development stock remained flat at $0.39 during trading hours on Wednesday. Melco International Development has a 1-year low of $0.37 and a 1-year high of $0.83. The firm has a 50-day moving average price of $0.41 and a two-hundred day moving average price of $0.46.

About Melco International Development

Melco International Development Limited is a Hong Kong-based investment holding company with core interests in the gaming, hospitality, leisure and entertainment industries. Through its subsidiaries and affiliated businesses, the company develops and operates integrated resorts that combine casino gaming with hotels, dining, retail, convention facilities and entertainment attractions.

Melco International’s principal gaming and resort interests are associated with Melco Resorts & Entertainment Limited, which operates properties in Macau and the Philippines and has developed integrated resort operations in Cyprus.