Meituan (OTCMKTS:MPNGF) Sees Large Drop in Short Interest

Meituan (OTCMKTS:MPNGF) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 1,292,905 shares, a decline of 90.3% from the August 31st total of 13,349,698 shares. Based on an average daily volume of 48,683 shares, the days-to-cover ratio is presently 26.6 days.

Meituan Price Performance

Shares of MPNGF opened at $9.45 on Friday. Meituan has a 12-month low of $8.20 and a 12-month high of $14.20. The firm has a fifty day moving average price of $10.50 and a 200-day moving average price of $10.23.

Analysts Set New Price Targets

Separately, Citigroup upgraded Meituan to a “buy” rating in a research report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Meituan Company Profile

Meituan is a China-based technology platform that connects consumers with businesses through a broad range of local commerce and lifestyle services. Its platform helps users discover, purchase and receive goods and services from restaurants, retailers, hotels and other merchants.

The company’s principal activities include food delivery, restaurant and retail ordering, in-store dining and entertainment reservations, hotel bookings and travel-related services. Meituan also operates or supports grocery and community retail offerings, merchant software, delivery logistics and other services designed to help businesses reach consumers and manage online transactions.

Founded in 2010, Meituan has expanded its operations across cities throughout mainland China.