Meituan (OTCMKTS:MPNGF) Trading Down 0.4% – Here’s What Happened

Meituan (OTCMKTS:MPNGF) shares traded down 0.4% during trading on Thursday . The company traded as low as $12.90 and last traded at $13.40. 50,887 shares were traded during trading, an increase of 76% from the average session volume of 28,922 shares. The stock had previously closed at $13.45.

Analysts Set New Price Targets

Separately, Benchmark downgraded Meituan to a “hold” rating in a research note on Monday, December 1st. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $10.00.

Meituan Stock Performance

The firm’s 50 day moving average is $12.83 and its two-hundred day moving average is $13.90.

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.