Meituan (OTCMKTS:MPNGF) Short Interest Update

Meituan (OTCMKTS:MPNGF) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 13,349,698 shares, an increase of 2,898.9% from the August 15th total of 445,157 shares. Based on an average trading volume of 25,355 shares, the short-interest ratio is presently 526.5 days.

Meituan Price Performance

OTCMKTS MPNGF traded up $0.10 on Thursday, reaching $9.47. The company’s stock had a trading volume of 2,000 shares, compared to its average volume of 11,596. Meituan has a twelve month low of $8.20 and a twelve month high of $14.20. The firm’s 50 day moving average is $10.53 and its two-hundred day moving average is $10.30.

Analyst Ratings Changes

Separately, Citigroup upgraded shares of Meituan to a “buy” rating in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Meituan Company Profile

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.