Meituan (OTCMKTS:MPNGF) Trading Up 3.9% – Should You Buy?

Meituan (OTCMKTS:MPNGF)’s share price shot up 3.9% on Tuesday . The stock traded as high as $8.52 and last traded at $8.52. 200 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 11,057 shares. The stock had previously closed at $8.1980.

Analyst Upgrades and Downgrades

Separately, Citigroup upgraded shares of Meituan to a “buy” rating in a report on Tuesday, June 2nd. One 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. According to data from MarketBeat.com, Meituan currently has a consensus rating of “Hold” and an average price target of $10.00.

Meituan Trading Up 3.9%

The stock has a fifty day simple moving average of $10.04 and a 200-day simple moving average of $10.99.

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.