Mingteng International (NASDAQ:MTEN) Shares Scheduled to Reverse Split on Monday, January 26th

Mingteng International Corporation Inc. (NASDAQ:MTEN) shares are going to reverse split on Monday, January 26th. The 1-200 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, January 25th.

Mingteng International Stock Down 26.4%

NASDAQ MTEN traded down $0.01 during trading hours on Thursday, hitting $0.02. The company had a trading volume of 183,261,655 shares, compared to its average volume of 97,597,776. The firm’s 50 day moving average is $0.95 and its 200 day moving average is $6.91. Mingteng International has a fifty-two week low of $0.02 and a fifty-two week high of $26.03.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Mingteng International in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

About Mingteng International

Mingteng International Group Limited is a special-purpose acquisition company incorporated in the Cayman Islands with a focus on business combinations in the Greater China region. Sponsored by Guangdong Mingteng Investment Holdings Group Co, Ltd., the company completed its initial public offering on the NASDAQ under the ticker MTEN in early 2023. Its primary objective is to leverage sponsor expertise and industry relationships to identify and merge with businesses in high-growth sectors.

The company targets acquisitions across advanced manufacturing, new energy, healthcare, technology and related industries that exhibit strong growth potential.