Meituan (OTCMKTS:MPNGF) Trading Down 3.7% – Should You Sell?

Shares of Meituan (OTCMKTS:MPNGF) fell 3.7% during mid-day trading on Monday . The stock traded as low as $9.6255 and last traded at $9.6255. 245 shares were traded during trading, a decline of 98% from the average session volume of 11,939 shares. The stock had previously closed at $10.00.

Wall Street Analysts Forecast Growth

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

Meituan Trading Up 4.9%

The company’s fifty day moving average is $10.50 and its 200 day moving average is $11.35.

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.