Meituan (OTCMKTS:MPNGF) Short Interest Update

Meituan (OTCMKTS:MPNGF) was the recipient of a large decrease in short interest in July. As of July 15th, there was short interest totaling 1,063,608 shares, a decrease of 67.5% from the June 30th total of 3,270,279 shares. Based on an average trading volume of 2,457 shares, the short-interest ratio is presently 432.9 days.

Meituan Stock Performance

MPNGF remained flat at $11.11 during midday trading on Tuesday. 3,711 shares of the company’s stock were exchanged, compared to its average volume of 10,099. Meituan has a twelve month low of $8.20 and a twelve month high of $17.04. The company’s 50-day simple moving average is $9.69 and its 200-day simple moving average is $10.56.

Analyst Upgrades and Downgrades

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

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.