Melco International Development Ltd. (OTCMKTS:MDEVF) Short Interest Up 70.0% in August

Melco International Development Ltd. (OTCMKTS:MDEVF) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 932,260 shares, an increase of 70.0% from the August 15th total of 548,260 shares. Based on an average daily trading volume, of 11,654 shares, the days-to-cover ratio is currently 80.0 days. Currently, 0.1% of the shares of the company are sold short.

Melco International Development Stock Performance

Shares of MDEVF opened at $0.39 on Friday. Melco International Development has a 12 month low of $0.37 and a 12 month high of $0.83. The stock has a fifty day moving average price of $0.41 and a 200 day moving average price of $0.46.

Wall Street Analysts Forecast Growth

Separately, CICC Research downgraded shares of Melco International Development to a “market perform” rating in a research report on Sunday, August 16th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Melco International Development Company Profile

Melco International Development Limited is a Hong Kong-based investment holding company with core interests in the gaming, hospitality, leisure and entertainment industries. Through its subsidiaries and affiliated businesses, the company develops and operates integrated resorts that combine casino gaming with hotels, dining, retail, convention facilities and entertainment attractions.

Melco International’s principal gaming and resort interests are associated with Melco Resorts & Entertainment Limited, which operates properties in Macau and the Philippines and has developed integrated resort operations in Cyprus.