Meituan (OTCMKTS:MPNGF) Sees Significant Decline in Short Interest

Meituan (OTCMKTS:MPNGF) was the recipient of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 1,292,905 shares, a decrease of 90.3% from the August 31st total of 13,349,698 shares. Based on an average trading volume of 48,683 shares, the short-interest ratio is presently 26.6 days.

Meituan Stock Up 2.7%

Shares of MPNGF traded up $0.25 on Thursday, hitting $9.45. The company’s stock had a trading volume of 205 shares, compared to its average volume of 11,192. The company has a 50 day moving average price of $10.50 and a 200 day moving average price of $10.23. Meituan has a fifty-two week low of $8.20 and a fifty-two week high of $14.20.

Analysts Set New Price Targets

Separately, Citigroup raised Meituan to a “buy” rating in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Meituan presently has a consensus rating of “Moderate Buy”.

About Meituan

Meituan is a China-based technology platform that connects consumers with businesses through a broad range of local commerce and lifestyle services. Its platform helps users discover, purchase and receive goods and services from restaurants, retailers, hotels and other merchants.

The company’s principal activities include food delivery, restaurant and retail ordering, in-store dining and entertainment reservations, hotel bookings and travel-related services. Meituan also operates or supports grocery and community retail offerings, merchant software, delivery logistics and other services designed to help businesses reach consumers and manage online transactions.

Founded in 2010, Meituan has expanded its operations across cities throughout mainland China.