Short Interest in Melco International Development Limited (OTCMKTS:MDEVF) Drops By 52.8%

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

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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.