Mingteng International Corporation Inc. (NASDAQ:MTEN – Get Free Report) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 358,693 shares, an increase of 147.8% from the September 30th total of 144,769 shares. Based on an average daily volume of 7,099,547 shares, the short-interest ratio is presently 0.1 days. Currently, 5.4% of the company’s shares are sold short.
Mingteng International Price Performance
NASDAQ:MTEN traded down $0.00 during trading hours on Friday, hitting $0.84. 34,376 shares of the stock were exchanged, compared to its average volume of 2,019,713. The firm’s fifty day moving average price is $1.00 and its 200 day moving average price is $1.57. Mingteng International has a 52-week low of $0.78 and a 52-week high of $664.00.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on MTEN shares. Wall Street Zen downgraded shares of Mingteng International from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Weiss Ratings lowered shares of Mingteng International from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, September 25th. One research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock presently has an average rating of “Sell”.
About Mingteng International
Mingteng International Corporation Limited (NASDAQ: MTEN) is a China-based manufacturer focused primarily on automotive molds, dies and metal components. The company designs and produces tooling used in vehicle manufacturing, as well as stamped and machined parts for automotive applications.
Its product and service capabilities include the development and manufacture of automotive stamping dies, metal body and structural components, and related precision parts. Mingteng International also provides supporting processes such as stamping, welding, machining and assembly, serving the production needs of automobile manufacturers and automotive component suppliers.
The company’s operations are centered in China, where it serves customers across the domestic automotive supply chain.
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