Meituan (OTCMKTS:MPNGF) Trading Up 4.1% – Still a Buy?

Meituan (OTCMKTS:MPNGF)’s stock price rose 4.1% during mid-day trading on Friday . The company traded as high as $10.78 and last traded at $10.72. Approximately 43,848 shares traded hands during mid-day trading, an increase of 133% from the average daily volume of 18,802 shares. The stock had previously closed at $10.30.

Analysts Set New Price Targets

Separately, Benchmark downgraded Meituan to a “hold” rating in a research report on Monday, December 1st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $10.00.

Meituan Stock Up 4.1%

The stock has a fifty day moving average price of $12.38 and a 200 day moving average price of $12.99.

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.