Meritage Hospitality Group Inc. (OTCMKTS:MHGU) Sees Large Growth in Short Interest

Meritage Hospitality Group Inc. (OTCMKTS:MHGU) was the target of a large increase in short interest in August. As of August 31st, there was short interest totaling 7,708 shares, an increase of 24,764.5% from the August 15th total of 31 shares. Based on an average daily volume of 12,327 shares, the short-interest ratio is presently 0.6 days. Currently, 0.4% of the shares of the stock are short sold.

Meritage Hospitality Group Trading Up 0.5%

Shares of MHGU stock traded up $0.01 during trading hours on Thursday, hitting $2.06. 1,528 shares of the company’s stock traded hands, compared to its average volume of 9,307. The stock has a market cap of $13.90 million, a PE ratio of -0.26 and a beta of -0.22. The stock’s 50 day simple moving average is $2.26 and its 200 day simple moving average is $2.35. The company has a quick ratio of 0.10, a current ratio of 0.11 and a debt-to-equity ratio of 0.04. Meritage Hospitality Group has a 12 month low of $1.34 and a 12 month high of $11.25.

Meritage Hospitality Group (OTCMKTS:MHGU) last released its earnings results on Wednesday, August 12th. The company reported ($2.09) earnings per share for the quarter. Meritage Hospitality Group had a negative net margin of 8.89% and a negative return on equity of 44.87%. The firm had revenue of $140.99 million for the quarter.

About Meritage Hospitality Group

Meritage Hospitality Group (OTCMKTS: MHGU) is a diversified hospitality company that invests in, develops and manages limited- and select-service hotels across the United States. The company’s core activities include identifying and acquiring strategic hotel assets, securing franchise affiliations with prominent lodging brands and overseeing day-to-day property operations through its in-house management platform. Meritage’s vertically integrated model seeks to capture value at each stage of the hotel lifecycle, from site selection and development to ongoing asset management and performance optimization.

Meritage partners with leading national and global hotel franchisors, typically operating under brands within the Marriott, Choice and IHG portfolios.