Mingteng International (NASDAQ:MTEN) Shares Down 0.5% – Here’s Why

Mingteng International Corporation Inc. (NASDAQ:MTEN)’s share price was down 0.5% during mid-day trading on Tuesday . The stock traded as low as $0.99 and last traded at $1.08. Approximately 222,024 shares were traded during trading, an increase of 60% from the average daily volume of 139,179 shares. The stock had previously closed at $1.0850.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Mingteng International in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Mingteng International Stock Down 0.5%

The stock has a fifty day moving average price of $3.08 and a 200-day moving average price of $9.31.

Hedge Funds Weigh In On Mingteng International

An institutional investor recently bought a new position in Mingteng International stock. Nomura Holdings Inc. bought a new stake in Mingteng International Corporation Inc. (NASDAQ:MTEN) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 14,831 shares of the company’s stock, valued at approximately $75,000. Nomura Holdings Inc. owned approximately 0.22% of Mingteng International as of its most recent SEC filing.

Mingteng International Company Profile

Mingteng International Corporation Inc engages in the design, development, production, assembly, testing, repair, and after-sale service of molds in the People's Republic of China. It offers casting molds for turbocharger systems, braking systems, steering and differential systems, and other automotive system parts.