ME Group International (LON:MEGP) Shares Down 0.2% - Here's Why

Key Points

• Shares of ME Group International fell by 0.2%, trading at GBX 201 ($2.71) after peaking at GBX 200 ($2.70) amid a significant decline in volume.
• Berenberg Bank has reaffirmed a "buy" rating for the company with a price target of GBX 305, while the average price target among analysts stands at GBX 270.
• ME Group International is a leader in automated self-service equipment with over 48,000 vending units operating across 16 countries, focusing on the consumer market.

Shares of ME Group International plc (LON:MEGP - Get Free Report) traded down 0.2% during mid-day trading on Wednesday . The stock traded as low as GBX 200 ($2.70) and last traded at GBX 201 ($2.71). 349,014 shares traded hands during trading, a decline of 54% from the average session volume of 756,571 shares. The stock had previously closed at GBX 201.50 ($2.72).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reissued a "buy" rating and set a GBX 305 price target on shares of ME Group International in a report on Monday, June 2nd. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average price target of GBX 270.

ME Group International Stock Performance

The firm has a market cap of £764.04 million, a price-to-earnings ratio of 14.43 and a beta of 1.20. The business's 50 day moving average price is GBX 218.23 and its 200-day moving average price is GBX 208.09.

About ME Group International

ME Group International plc LSE: MEGP is an international market leader in automated self-service equipment aimed at the consumer market, with over 48,000 vending units currently in operation. The Group operates, sells and services a wide range of instant-service vending equipment across 16 countries in its key regions of Continental Europe, the UK & Republic of Ireland and Asia Pacific.

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