Meituan (OTCMKTS:MPNGF) Short Interest Up 2,898.9% in August

Meituan (OTCMKTS:MPNGF) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totaling 13,349,698 shares, a growth of 2,898.9% from the August 15th total of 445,157 shares. Based on an average daily volume of 25,355 shares, the short-interest ratio is currently 526.5 days.

Analysts Set New Price Targets

Separately, Citigroup upgraded Meituan to a “buy” rating in a 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 stock. According to MarketBeat, Meituan presently has a consensus rating of “Moderate Buy”.

Meituan Stock Performance

Shares of MPNGF stock opened at $9.57 on Friday. Meituan has a 1-year low of $8.20 and a 1-year high of $14.20. The business has a 50-day moving average of $10.56 and a 200 day moving average of $10.28.

Meituan Company Profile

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.