Meituan (OTCMKTS:MPNGF)’s share price dropped 1.8% on Tuesday . The company traded as low as $33.50 and last traded at $33.58. Approximately 17,271 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 129,546 shares. The stock had previously closed at $34.20.
MPNGF has been the subject of a number of analyst reports. Barclays initiated coverage on shares of Meituan in a research note on Tuesday, November 2nd. They issued an “underweight” rating for the company. KGI Securities initiated coverage on shares of Meituan in a research note on Monday, September 6th. They issued a “neutral” rating for the company.
The stock’s 50-day moving average is $34.12 and its 200-day moving average is $34.01.
Meituan, an investment holding company, provides an e-commerce platform that uses technology to connect consumers and merchants. It operates through Food Delivery; In-store, Hotel & Travel; and New Initiatives and Others segments. The Food Delivery segment offers food ordering and delivery service through its platform.
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