Meituan Unsponsored ADR (OTCMKTS:MPNGY) Shares Shorted: Short Interest Down 46.9% in September

Meituan Unsponsored ADR (OTCMKTS:MPNGY) was the recipient of a large drop in short interest in September. As of September 15th, there was short interest totaling 295,950 shares, a drop of 46.9% from the August 31st total of 557,529 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 351,675 shares, the days-to-cover ratio is presently 0.8 days.

Meituan Price Performance

Shares of OTCMKTS MPNGY traded up $0.32 during mid-day trading on Wednesday, reaching $18.12. The company’s stock had a trading volume of 56,240 shares, compared to its average volume of 288,050. The stock has a 50-day moving average of $20.97 and a two-hundred day moving average of $20.60. Meituan has a 1-year low of $16.23 and a 1-year high of $27.54.

Analysts Set New Price Targets

Separately, China Intl Cap upgraded Meituan to a “strong-buy” rating in a report on Sunday, August 30th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company has an average rating of “Strong Buy”.

Meituan Company Profile

Meituan is a China-based technology platform that connects consumers with businesses through a broad range of local commerce services. Its platform supports food delivery, restaurant discovery and reservations, in-store dining and entertainment, hotel bookings, travel services, and other everyday consumer needs.

The company also provides services related to grocery and retail delivery, fresh food, household services, and on-demand transportation. Meituan serves consumers and merchants through mobile applications and digital tools, while its delivery network supports the fulfillment of meals, groceries, retail products, and other local services.

Founded in 2010 by Wang Xing, Meituan has developed from a group-buying website into one of China’s major local services platforms.