Mingteng International Corporation Inc. (NASDAQ:MTEN) Short Interest Up 24.6% in March

Mingteng International Corporation Inc. (NASDAQ:MTEN) saw a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 109,453 shares, an increase of 24.6% from the February 26th total of 87,830 shares. Currently, 9.0% of the company’s shares are sold short. Based on an average daily volume of 599,044 shares, the days-to-cover ratio is presently 0.2 days.

Mingteng International Stock Down 0.8%

Shares of Mingteng International stock traded down $0.01 on Tuesday, hitting $1.23. The stock had a trading volume of 23,727 shares, compared to its average volume of 316,509. Mingteng International has a one year low of $1.19 and a one year high of $5,206.00. The stock’s 50-day simple moving average is $1.86 and its two-hundred day simple moving average is $413.15.

Analyst Ratings Changes

Several research firms have issued reports on MTEN. Wall Street Zen lowered shares of Mingteng International from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mingteng International in a research note on Friday. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Mingteng International has a consensus rating of “Sell”.

About Mingteng International

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.