Melco International Development Ltd. (OTCMKTS:MDEVF) Short Interest Update

Melco International Development Ltd. (OTCMKTS:MDEVF) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 932,260 shares, a growth of 70.0% from the August 15th total of 548,260 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 11,654 shares, the days-to-cover ratio is presently 80.0 days.

Analysts Set New Price Targets

Separately, CICC Research cut Melco International Development to a “market perform” rating in a research note on Sunday, August 16th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Melco International Development presently has an average rating of “Hold”.

Melco International Development Stock Performance

Shares of OTCMKTS:MDEVF remained flat at $0.39 during trading on Wednesday. The company’s fifty day moving average price is $0.41 and its 200 day moving average price is $0.46. Melco International Development has a twelve month low of $0.37 and a twelve month high of $0.83.

Melco International Development Company Profile

Melco International Development Limited is a Hong Kong-based investment holding company with core interests in the gaming, hospitality, leisure and entertainment industries. Through its subsidiaries and affiliated businesses, the company develops and operates integrated resorts that combine casino gaming with hotels, dining, retail, convention facilities and entertainment attractions.

Melco International’s principal gaming and resort interests are associated with Melco Resorts & Entertainment Limited, which operates properties in Macau and the Philippines and has developed integrated resort operations in Cyprus.