Mingteng International Co. Inc. (NASDAQ:MTEN) Sees Large Growth in Short Interest

Mingteng International Co. Inc. (NASDAQ:MTEN) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 7,300 shares, a growth of 217.4% from the October 15th total of 2,300 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily volume of 61,300 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Mingteng International

A hedge fund recently bought a new stake in Mingteng International stock. Renaissance Technologies LLC bought a new position in Mingteng International Co. Inc. (NASDAQ:MTEN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 27,100 shares of the company’s stock, valued at approximately $77,000. Renaissance Technologies LLC owned about 0.44% of Mingteng International as of its most recent SEC filing.

Mingteng International Stock Down 12.0 %

Shares of MTEN stock traded down $0.85 during mid-day trading on Tuesday, hitting $6.26. 48,270 shares of the stock traded hands, compared to its average volume of 95,742. The company’s 50-day simple moving average is $5.25 and its 200-day simple moving average is $4.75. Mingteng International has a twelve month low of $1.80 and a twelve month high of $9.87.

About Mingteng International

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.