Mingteng International Co. Inc. (NASDAQ:MTEN) Sees Significant Increase in Short Interest

Mingteng International Co. Inc. (NASDAQ:MTEN) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 18,000 shares, a growth of 4,400.0% from the December 31st total of 400 shares. Based on an average daily volume of 55,400 shares, the days-to-cover ratio is currently 0.3 days. Approximately 1.1% of the shares of the company are sold short.

Hedge Funds Weigh In On Mingteng International

An institutional investor recently bought a new position in Mingteng International stock. Renaissance Technologies LLC purchased a new position in shares of Mingteng International Co. Inc. (NASDAQ:MTEN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 27,100 shares of the company’s stock, valued at approximately $77,000. Renaissance Technologies LLC owned approximately 0.44% of Mingteng International at the end of the most recent reporting period.

Mingteng International Price Performance

Shares of NASDAQ MTEN traded down $0.26 during mid-day trading on Tuesday, hitting $4.70. 161,935 shares of the company were exchanged, compared to its average volume of 74,249. Mingteng International has a 1-year low of $1.80 and a 1-year high of $9.87. The stock has a 50 day simple moving average of $5.86 and a 200-day simple moving average of $5.17.

Mingteng International Company Profile

Mingteng International Corporation Inc engages in the design, development, production, assembly, testing, repair, and after-sale service of molds in the People's Republic of China. It offers casting molds for turbocharger systems, braking systems, steering and differential systems, and other automotive system parts.