Mingteng International (NASDAQ:MTEN) Shares Set to Reverse Split on Monday, January 26th

Shares of Mingteng International Corporation Inc. (NASDAQ:MTEN) are going to reverse split on the morning of Monday, January 26th. The 1-200 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, January 25th.

Mingteng International Stock Down 26.4%

Shares of MTEN traded down $0.01 during trading hours on Thursday, hitting $0.02. The stock had a trading volume of 183,261,655 shares, compared to its average volume of 97,597,776. The company’s fifty day moving average is $0.95 and its two-hundred day moving average is $6.91. Mingteng International has a 52 week low of $0.02 and a 52 week high of $26.03.

Wall Street Analysts Forecast Growth

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

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.