Meituan (OTCMKTS:MPNGF) Short Interest Update

Meituan (OTCMKTS:MPNGF) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 13,349,698 shares, an increase of 2,898.9% from the August 15th total of 445,157 shares. Based on an average trading volume of 25,355 shares, the days-to-cover ratio is currently 526.5 days.

Meituan Trading Up 1.1%

MPNGF stock traded up $0.10 during trading on Thursday, reaching $9.47. 2,000 shares of the company’s stock were exchanged, compared to its average volume of 11,596. Meituan has a 1-year low of $8.20 and a 1-year high of $14.20. The company’s fifty day moving average price is $10.53 and its 200-day moving average price is $10.30.

Analysts Set New Price Targets

Separately, Citigroup upgraded Meituan to a “buy” rating in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Meituan currently has an average rating of “Moderate Buy”.

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.