Meituan (OTCMKTS:MPNGF) Stock Price Down 9.6% – What’s Next?

Meituan (OTCMKTS:MPNGF)’s stock price dropped 9.6% during mid-day trading on Monday . The stock traded as low as $10.20 and last traded at $10.20. 100 shares changed hands during trading, a decline of 99% from the average daily volume of 9,266 shares. The stock had previously closed at $11.2875.

Analyst Ratings Changes

Separately, Citigroup upgraded Meituan to a “buy” rating in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.00.

Meituan Price Performance

The company’s 50-day simple moving average is $10.13 and its 200 day simple moving average is $10.43.

About Meituan

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.