Mingteng International Corporation Inc. (NASDAQ:MTEN) Short Interest Update

Mingteng International Corporation Inc. (NASDAQ:MTEN) saw a significant drop in short interest in January. As of January 30th, there was short interest totaling 182,880 shares, a drop of 89.5% from the January 15th total of 1,739,437 shares. Based on an average daily trading volume, of 813,726 shares, the short-interest ratio is currently 0.2 days. Approximately 15.0% of the company’s stock are sold short. Approximately 15.0% of the company’s stock are sold short. Based on an average daily trading volume, of 813,726 shares, the short-interest ratio is currently 0.2 days.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mingteng International in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Mingteng International presently has a consensus rating of “Sell”.

Mingteng International Price Performance

NASDAQ:MTEN traded down $0.02 during midday trading on Wednesday, hitting $1.86. 38,919 shares of the company were exchanged, compared to its average volume of 730,775. The company has a fifty day simple moving average of $94.22 and a 200 day simple moving average of $1,035.46. Mingteng International has a fifty-two week low of $1.57 and a fifty-two week high of $5,206.00.

Mingteng International Company Profile

Mingteng International Group Limited is a special-purpose acquisition company incorporated in the Cayman Islands with a focus on business combinations in the Greater China region. Sponsored by Guangdong Mingteng Investment Holdings Group Co, Ltd., the company completed its initial public offering on the NASDAQ under the ticker MTEN in early 2023. Its primary objective is to leverage sponsor expertise and industry relationships to identify and merge with businesses in high-growth sectors.

The company targets acquisitions across advanced manufacturing, new energy, healthcare, technology and related industries that exhibit strong growth potential.