Short Interest in Mingteng International Corporation Inc. (NASDAQ:MTEN) Rises By 500.7%

Mingteng International Corporation Inc. (NASDAQ:MTEN) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 323,833 shares, a growth of 500.7% from the December 15th total of 53,912 shares. Based on an average daily volume of 1,568,031 shares, the short-interest ratio is currently 0.2 days. Currently, 1.5% of the shares of the company are sold short. Currently, 1.5% of the shares of the company are sold short. Based on an average daily volume of 1,568,031 shares, the short-interest ratio is currently 0.2 days.

Mingteng International Trading Down 41.9%

Shares of Mingteng International stock traded down $0.06 during trading hours on Monday, reaching $0.08. 280,176,840 shares of the stock traded hands, compared to its average volume of 17,187,820. Mingteng International has a one year low of $0.07 and a one year high of $26.03. The company has a 50 day moving average price of $1.27 and a 200 day moving average price of $7.38.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mingteng International in a research report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average 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.