Meituan (OTCMKTS:MPNGF) Sees Significant Decrease in Short Interest

Meituan (OTCMKTS:MPNGF) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 1,063,608 shares, a decline of 67.5% from the June 30th total of 3,270,279 shares. Based on an average daily trading volume, of 2,457 shares, the days-to-cover ratio is currently 432.9 days.

Wall Street Analysts Forecast Growth

Separately, Citigroup raised shares of Meituan to a “buy” rating in a research report on Tuesday, June 2nd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Meituan has a consensus rating of “Hold” and a consensus price target of $10.00.

Meituan Price Performance

Meituan stock traded up $0.51 during midday trading on Monday, reaching $11.12. The stock had a trading volume of 3,608 shares, compared to its average volume of 10,098. The stock’s 50-day simple moving average is $9.68 and its 200 day simple moving average is $10.57. Meituan has a twelve month low of $8.20 and a twelve month high of $17.04.

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.