Melco International Development Ltd. (OTCMKTS:MDEVF) Sees Large Increase in Short Interest

Melco International Development Ltd. (OTCMKTS:MDEVF) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 932,260 shares, a growth of 70.0% from the August 15th total of 548,260 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 11,654 shares, the days-to-cover ratio is currently 80.0 days.

Analysts Set New Price Targets

Separately, CICC Research downgraded shares of Melco International Development to a “market perform” rating in a report on Sunday, August 16th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Melco International Development Price Performance

OTCMKTS MDEVF remained flat at $0.39 during trading hours on Thursday. Melco International Development has a one year low of $0.37 and a one year high of $0.83. The company’s 50 day moving average is $0.41 and its two-hundred day moving average is $0.46.

Melco International Development Company Profile

Melco International Development Limited is a Hong Kong-based investment holding company with core interests in the gaming, hospitality, leisure and entertainment industries. Through its subsidiaries and affiliated businesses, the company develops and operates integrated resorts that combine casino gaming with hotels, dining, retail, convention facilities and entertainment attractions.

Melco International’s principal gaming and resort interests are associated with Melco Resorts & Entertainment Limited, which operates properties in Macau and the Philippines and has developed integrated resort operations in Cyprus.