Short Interest in Mingteng International Corporation Inc. (NASDAQ:MTEN) Expands By 329.0%

Mingteng International Corporation Inc. (NASDAQ:MTEN) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 53,912 shares, an increase of 329.0% from the November 30th total of 12,567 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average trading volume of 255,077 shares, the days-to-cover ratio is presently 0.2 days. Based on an average trading volume of 255,077 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.2% of the shares of the company are sold short.

Mingteng International Stock Up 24.8%

Shares of Mingteng International stock opened at $0.85 on Friday. The stock’s fifty day moving average is $2.06 and its 200 day moving average is $8.32. Mingteng International has a one year low of $0.52 and a one year high of $26.03.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Mingteng International in a research report on Monday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mingteng International stock. Nomura Holdings Inc. bought a new position in shares of Mingteng International Corporation Inc. (NASDAQ:MTEN) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 14,831 shares of the company’s stock, valued at approximately $75,000. Nomura Holdings Inc. owned 0.22% of Mingteng International at the end of the most recent quarter.

About Mingteng International

Mingteng International Group Limited is a special-purpose acquisition company incorporated in the Cayman Islands with a focus on business combinations in the Greater China region. Sponsored by Guangdong Mingteng Investment Holdings Group Co, Ltd., the company completed its initial public offering on the NASDAQ under the ticker MTEN in early 2023. Its primary objective is to leverage sponsor expertise and industry relationships to identify and merge with businesses in high-growth sectors.

The company targets acquisitions across advanced manufacturing, new energy, healthcare, technology and related industries that exhibit strong growth potential.