Meituan (OTCMKTS:MPNGF) Shares Up 3% – Here’s Why

Meituan (OTCMKTS:MPNGF)’s stock price rose 3% on Thursday . The stock traded as high as $12.80 and last traded at $12.80. Approximately 370 shares traded hands during trading, a decline of 97% from the average daily volume of 12,005 shares. The stock had previously closed at $12.4250.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Benchmark downgraded shares of Meituan to a “hold” rating in a report on Monday, December 1st. Barclays restated an “underweight” rating and set a $10.00 price objective on shares of Meituan in a research report on Thursday, August 28th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $10.00.

Meituan Trading Up 3.3%

The business’s fifty day moving average price is $12.71 and its 200 day moving average price is $14.37.

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.