Meituan (OTCMKTS:MPNGF) Short Interest Down 52.4% in June

Meituan (OTCMKTS:MPNGF) was the recipient of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 3,270,279 shares, a decrease of 52.4% from the June 15th total of 6,871,544 shares. Based on an average daily volume of 14,954 shares, the short-interest ratio is presently 218.7 days.

Wall Street Analyst Weigh In

Separately, Citigroup raised shares of Meituan to a “buy” rating in a research report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $10.00.

Meituan Stock Up 7.2%

MPNGF stock opened at $9.65 on Tuesday. The business has a 50 day moving average of $9.81 and a 200-day moving average of $10.77. Meituan has a 12-month low of $8.20 and a 12-month high of $18.30.

About Meituan

Meituan is a leading Chinese technology-driven platform that facilitates on-demand delivery and local services through its mobile application and website. The company offers a wide range of services, including food delivery, in-store dining, grocery and fresh produce delivery, ride sharing, and hotel and travel bookings. Leveraging an extensive network of local merchants and service providers, Meituan connects millions of users with convenient, real-time access to everyday services and experiences across urban and suburban communities in Mainland China.

Founded in June 2010 by serial internet entrepreneur Wang Xing, Meituan originally launched as a group-buying platform before expanding its offerings to encompass multiple verticals in the online-to-offline (O2O) economy.