Mingteng International (NASDAQ:MTEN) Shares Set to Reverse Split on Monday, January 26th

Shares of Mingteng International Corporation Inc. (NASDAQ:MTEN) are going to reverse split on Monday, January 26th. The 1-200 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, January 25th.

Mingteng International Price Performance

Shares of MTEN stock traded down $0.01 on Thursday, hitting $0.02. 183,261,655 shares of the company’s stock traded hands, compared to its average volume of 152,416,078. The company’s fifty day simple moving average is $0.95 and its 200 day simple moving average is $6.91. Mingteng International has a one year low of $0.02 and a one year high of $26.03.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mingteng International in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Mingteng International Company Profile

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.