Mingteng International Corporation Inc. (NASDAQ:MTEN) Short Interest Update

Mingteng International Corporation Inc. (NASDAQ:MTEN) was the target of a large increase in short interest in 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 daily trading volume, of 255,077 shares, the short-interest ratio is currently 0.2 days. Based on an average daily trading volume, of 255,077 shares, the short-interest ratio is currently 0.2 days. Approximately 0.2% of the shares of the company are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Mingteng International stock. Nomura Holdings Inc. purchased a new position in Mingteng International Corporation Inc. (NASDAQ:MTEN) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,831 shares of the company’s stock, valued at approximately $75,000. Nomura Holdings Inc. owned about 0.22% of Mingteng International as of its most recent SEC filing.

Mingteng International Price Performance

Shares of Mingteng International stock traded up $0.17 on Friday, hitting $0.85. The company’s stock had a trading volume of 484,570 shares, compared to its average volume of 180,995. Mingteng International has a 52-week low of $0.52 and a 52-week high of $26.03. The firm has a fifty day moving average price of $2.14 and a 200-day moving average price of $8.39.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mingteng International in a report on Monday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Mingteng International has a consensus rating of “Sell”.

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.