Mingteng International Corporation Inc. (NASDAQ:MTEN) Short Interest Update

Mingteng International Corporation Inc. (NASDAQ:MTEN) was the target of a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 182,880 shares, a drop of 89.5% from the January 15th total of 1,739,437 shares. Approximately 15.0% of the shares of the company are sold short. Based on an average daily volume of 813,726 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 813,726 shares, the days-to-cover ratio is currently 0.2 days. Approximately 15.0% of the shares of the company are sold short.

Mingteng International Trading Up 5.1%

Shares of MTEN stock traded up $0.09 during trading on Tuesday, reaching $1.87. The company’s stock had a trading volume of 92,859 shares, compared to its average volume of 863,077. Mingteng International has a 1-year low of $1.57 and a 1-year high of $5,206.00. The stock’s 50-day moving average price is $94.22 and its 200 day moving average price is $1,035.46.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mingteng International in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Mingteng International Company Profile

Mingteng International Group Limited is a special-purpose acquisition company incorporated in the Cayman Islands with a focus on business combinations in the Greater China region. Sponsored by Guangdong Mingteng Investment Holdings Group Co, Ltd., the company completed its initial public offering on the NASDAQ under the ticker MTEN in early 2023. Its primary objective is to leverage sponsor expertise and industry relationships to identify and merge with businesses in high-growth sectors.

The company targets acquisitions across advanced manufacturing, new energy, healthcare, technology and related industries that exhibit strong growth potential.