Meituan Unsponsored ADR (OTCMKTS:MPNGY) Sees Significant Decline in Short Interest

Meituan Unsponsored ADR (OTCMKTS:MPNGY) saw a significant decrease in short interest during the month of September. As of September 15th, there was short interest totaling 295,950 shares, a decrease of 46.9% from the August 31st total of 557,529 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily volume of 351,675 shares, the short-interest ratio is currently 0.8 days.

Wall Street Analyst Weigh In

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

Meituan Trading Up 0.3%

OTCMKTS:MPNGY traded up $0.06 during mid-day trading on Thursday, reaching $18.09. 111,929 shares of the stock were exchanged, compared to its average volume of 287,289. Meituan has a 1 year low of $16.23 and a 1 year high of $27.54. The company has a 50 day simple moving average of $20.90 and a 200-day simple moving average of $20.59.

About Meituan

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.