ME Group International (LON:MEGP) Trading 9% Higher – Here’s What Happened

Shares of ME Group International plc (LON:MEGP) were up 9% during mid-day trading on Thursday . The stock traded as high as GBX 230 ($3.09) and last traded at GBX 230 ($3.09). Approximately 4,082,390 shares traded hands during trading, an increase of 388% from the average daily volume of 837,333 shares. The stock had previously closed at GBX 211 ($2.84).

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MEGP shares. Berenberg Bank reaffirmed a “buy” rating and set a GBX 305 ($4.10) price target on shares of ME Group International in a research note on Monday, June 2nd. Canaccord Genuity Group raised their price target on shares of ME Group International from GBX 203 ($2.73) to GBX 235 ($3.16) and gave the company a “buy” rating in a research note on Tuesday, February 25th.

ME Group International Stock Up 2.0%

The business’s 50 day moving average is GBX 206.88 and its two-hundred day moving average is GBX 205.01. The firm has a market cap of £868.57 million, a P/E ratio of 16.41 and a beta of 1.20.

ME Group International Company Profile

ME Group International plc (LSE: MEGP) operates, sells and services a wide range of instant-service vending equipment, primarily aimed at the consumer market.

The Group operates vending units across 18 countries and its technological innovation is focused on four principal areas:

• Photo.ME – Photobooths and integrated biometric
identification solutions
• Wash.ME – Unattended laundry services and launderettes
• Print.ME – High-quality digital printing kiosks
• Feed.ME – Vending equipment for the food service market

In addition, the Group operates other vending equipment such as children’s rides, amusement machines, and business service equipment.

Whilst the Group both sells and services this equipment, the majority of units are owned, operated and maintained by the Group.