Meituan (OTCMKTS:MPNGF) Short Interest Down 39.5% in July

Meituan (OTCMKTS:MPNGF) was the target of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 643,156 shares, a drop of 39.5% from the July 15th total of 1,063,608 shares. Based on an average trading volume of 1,638 shares, the short-interest ratio is currently 392.6 days.

Meituan Stock Performance

Shares of OTCMKTS:MPNGF opened at $10.20 on Wednesday. The stock has a 50 day moving average of $10.14 and a 200 day moving average of $10.41. Meituan has a 12-month low of $8.20 and a 12-month high of $16.40.

Wall Street Analyst Weigh In

Separately, Citigroup upgraded shares of Meituan to a “buy” rating in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $10.00.

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.