Meituan (OTCMKTS:MPNGF) Sees Significant Decline in Short Interest

Meituan (OTCMKTS:MPNGF) saw a significant decrease in short interest in September. As of September 15th, there was short interest totaling 1,292,905 shares, a decrease of 90.3% from the August 31st total of 13,349,698 shares. Based on an average daily volume of 48,683 shares, the short-interest ratio is currently 26.6 days.

Meituan Stock Up 2.7%

Meituan stock traded up $0.25 during midday trading on Thursday, hitting $9.45. 205 shares of the stock were exchanged, compared to its average volume of 11,192. The company has a fifty day simple moving average of $10.50 and a two-hundred day simple moving average of $10.23. Meituan has a 52 week low of $8.20 and a 52 week high of $14.20.

Analyst Upgrades and Downgrades

Separately, Citigroup upgraded Meituan to a “buy” rating in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Meituan Company Profile

Meituan is a China-based technology platform that connects consumers with businesses through a broad range of local commerce and lifestyle services. Its platform helps users discover, purchase and receive goods and services from restaurants, retailers, hotels and other merchants.

The company’s principal activities include food delivery, restaurant and retail ordering, in-store dining and entertainment reservations, hotel bookings and travel-related services. Meituan also operates or supports grocery and community retail offerings, merchant software, delivery logistics and other services designed to help businesses reach consumers and manage online transactions.

Founded in 2010, Meituan has expanded its operations across cities throughout mainland China.