Meituan (OTCMKTS:MPNGF) Shares Up 1.1% – Here’s Why

Meituan (OTCMKTS:MPNGF) was up 1.1% on Thursday . The stock traded as high as $12.60 and last traded at $12.43. Approximately 17,074 shares were traded during trading, a decline of 36% from the average daily volume of 26,717 shares. The stock had previously closed at $12.30.

Analysts Set New Price Targets

Separately, Benchmark downgraded Meituan to a “hold” rating in a research report on Monday, December 1st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Meituan has an average rating of “Reduce” and a consensus target price of $10.00.

Meituan Trading Up 1.1%

The company has a 50-day moving average price of $12.80 and a 200-day moving average price of $13.55.

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.