Melco International Development Limited (OTCMKTS:MDEVF – Get Rating) was the target of a significant decline in short interest in May. As of May 15th, there was short interest totalling 790,000 shares, a decline of 52.8% from the April 30th total of 1,672,500 shares. Based on an average daily volume of 14,000 shares, the days-to-cover ratio is currently 56.4 days.
Melco International Development Trading Up 1.1 %
MDEVF stock traded up $0.01 during mid-day trading on Friday, reaching $0.93. The company’s stock had a trading volume of 14,000 shares, compared to its average volume of 7,302. The business’s 50 day moving average price is $1.13 and its 200 day moving average price is $1.13. Melco International Development has a 12 month low of $0.50 and a 12 month high of $1.42.
Wall Street Analyst Weigh In
Separately, JPMorgan Chase & Co. upgraded Melco International Development from a “neutral” rating to an “overweight” rating in a report on Wednesday, March 15th.
About Melco International Development
Melco International Development Limited, an investment holding company, engages in the leisure and entertainment business in Macau, the Philippines, Cyprus, Japan, and Hong Kong. It operates in two segments, Casino and Hospitality, and Others. The company develops, owns, and operates a network of casino gaming and entertainment casino resorts.
- Get a free copy of the StockNews.com research report on Melco International Development (MDEVF)
- Big Lots Becomes A Stomach Churning Value Play
- The Melt-Up In Marvell Is On; But Don’t Chase It Higher
- Is Apple a Growth Stock or a Value Stock?
- Costco’s Earnings Call Reassure Economists, Recession Cancelled
- Hot Inflation, What It Means For The Summer Rally
Receive News & Ratings for Melco International Development Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Melco International Development and related companies with MarketBeat.com's FREE daily email newsletter.