Meituan (OTCMKTS:MPNGF) Sees Large Decrease in Short Interest

Meituan (OTCMKTS:MPNGF) was the recipient of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 643,156 shares, a drop of 39.5% from the July 15th total of 1,063,608 shares. Based on an average daily trading volume, of 1,638 shares, the short-interest ratio is currently 392.6 days.

Meituan Stock Performance

Shares of MPNGF stock remained flat at $10.20 during mid-day trading on Tuesday. 100 shares of the company’s stock traded hands, compared to its average volume of 9,266. Meituan has a 1-year low of $8.20 and a 1-year high of $16.40. The stock’s 50-day moving average price is $10.13 and its two-hundred day moving average price is $10.43.

Analysts Set New Price Targets

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

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.