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

Mingteng International Corporation Inc. (NASDAQ:MTEN) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 1,739,437 shares, an increase of 437.1% from the December 31st total of 323,833 shares. Currently, 1,581.3% of the shares of the stock are sold short. Based on an average trading volume of 165,816,912 shares, the short-interest ratio is currently 0.0 days. Based on an average trading volume of 165,816,912 shares, the short-interest ratio is currently 0.0 days. Currently, 1,581.3% of the shares of the stock are sold short.

Mingteng International Stock Up 13.7%

Mingteng International stock opened at $2.98 on Wednesday. Mingteng International has a 12-month low of $2.01 and a 12-month high of $5,206.00. The firm’s 50-day moving average is $158.13 and its two-hundred day moving average is $1,299.59.

Analysts Set New Price Targets

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

About Mingteng International

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.