Meituan (OTCMKTS:MPNGF) Short Interest Down 52.4% in June

Meituan (OTCMKTS:MPNGF) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 3,270,279 shares, a decrease of 52.4% from the June 15th total of 6,871,544 shares. Based on an average trading volume of 14,954 shares, the days-to-cover ratio is currently 218.7 days.

Wall Street Analyst Weigh In

Separately, Citigroup upgraded shares of Meituan to a “buy” rating in a report on Tuesday, June 2nd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $10.00.

Meituan Stock Up 7.2%

Shares of MPNGF opened at $9.65 on Tuesday. Meituan has a 12 month low of $8.20 and a 12 month high of $18.30. The firm’s fifty day simple moving average is $9.81 and its two-hundred day simple moving average is $10.77.

About Meituan

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.