Mingteng International Corporation Inc. (NASDAQ:MTEN – Get Free Report) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totaling 358,693 shares, a growth of 147.8% from the September 30th total of 144,769 shares. Currently, 5.4% of the company’s shares are sold short. Based on an average daily trading volume, of 7,099,547 shares, the short-interest ratio is presently 0.1 days.
Mingteng International Stock Down 0.1%
NASDAQ:MTEN traded down $0.00 during mid-day trading on Friday, reaching $0.84. 34,376 shares of the company’s stock traded hands, compared to its average volume of 2,019,713. Mingteng International has a 12-month low of $0.78 and a 12-month high of $664.00. The company has a 50 day moving average price of $1.00 and a 200-day moving average price of $1.57.
Analyst Ratings Changes
MTEN has been the topic of several recent analyst reports. Weiss Ratings cut shares of Mingteng International from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, September 25th. Wall Street Zen lowered shares of Mingteng International from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company currently has an average rating of “Sell”.
Get Our Latest Stock Analysis on Mingteng International
About Mingteng International
Mingteng International Corporation Limited (NASDAQ: MTEN) is a China-based manufacturer focused primarily on automotive molds, dies and metal components. The company designs and produces tooling used in vehicle manufacturing, as well as stamped and machined parts for automotive applications.
Its product and service capabilities include the development and manufacture of automotive stamping dies, metal body and structural components, and related precision parts. Mingteng International also provides supporting processes such as stamping, welding, machining and assembly, serving the production needs of automobile manufacturers and automotive component suppliers.
The company’s operations are centered in China, where it serves customers across the domestic automotive supply chain.
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