Meituan (OTCMKTS:MPNGF – Get Rating) saw a large decline in short interest in June. As of June 15th, there was short interest totalling 1,212,200 shares, a decline of 18.6% from the May 31st total of 1,488,300 shares. Based on an average daily volume of 44,100 shares, the short-interest ratio is presently 27.5 days.
Meituan stock opened at $25.19 on Wednesday. The firm has a 50-day moving average price of $22.83 and a 200-day moving average price of $23.46. Meituan has a 12-month low of $13.33 and a 12-month high of $39.05.
MPNGF has been the topic of several recent research reports. JPMorgan Chase & Co. raised Meituan from an “underweight” rating to an “overweight” rating in a report on Monday, May 16th. Barclays decreased their price objective on Meituan from $29.00 to $18.00 and set an “underweight” rating on the stock in a report on Monday, March 28th. Finally, Macquarie raised Meituan from a “neutral” rating to an “outperform” rating in a report on Friday, June 3rd.
Meituan operates an e-commerce platform for various services. It operates through Food Delivery; In-store, Hotel & Travel; and New Initiatives and Others segments. The Food delivery segment provides consumers place orders of food prepared by merchants. The In-store, Hotel & Travel segment offers consumers purchase local consumer services provided by merchants in numerous in-store categories or make reservations for hotels and attractions.
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