Mingteng International Co. Inc.’s Lock-Up Period Will End Tomorrow (NASDAQ:MTEN)

Mingteng International’s (NASDAQ:MTEN) lock-up period is set to expire on Tuesday, October 15th. Mingteng International had issued 1,050,000 shares in its public offering on April 18th. The total size of the offering was $4,200,000 based on an initial share price of $4.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Mingteng International Price Performance

Shares of NASDAQ MTEN opened at $4.49 on Monday. The firm’s fifty day moving average price is $4.60. Mingteng International has a 1-year low of $1.80 and a 1-year high of $7.13.

Hedge Funds Weigh In On Mingteng International

An institutional investor recently bought a new position in Mingteng International stock. Renaissance Technologies LLC acquired a new position in Mingteng International Co. Inc. (NASDAQ:MTEN) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 27,100 shares of the company’s stock, valued at approximately $77,000. Renaissance Technologies LLC owned 0.44% of Mingteng International at the end of the most recent quarter.

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.