Meituan (OTCMKTS:MPNGF) Trading Up 4.1% – Time to Buy?

Shares of Meituan (OTCMKTS:MPNGF) were up 4.1% on Friday . The stock traded as high as $10.78 and last traded at $10.72. Approximately 43,848 shares traded hands during mid-day trading, an increase of 133% from the average daily volume of 18,802 shares. The stock had previously closed at $10.30.

Analyst Ratings Changes

Separately, Benchmark cut Meituan to a “hold” rating in a research note on Monday, December 1st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $10.00.

Meituan Stock Up 4.1%

The firm’s fifty day moving average is $12.38 and its 200 day moving average is $13.01.

Meituan Company Profile

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.