ME Group International (LON:MEGP) Stock Price Down 0.2% - Time to Sell?

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) dropped 0.2% during trading on Wednesday . The stock traded as low as GBX 200 ($2.68) and last traded at GBX 201 ($2.69). Approximately 349,014 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 756,571 shares. The stock had previously closed at GBX 201.50 ($2.70).

Wall Street Analyst Weigh In

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

ME Group International Stock Down 3.1%

The company has a market cap of £733.85 million, a PE ratio of 1,291.89 and a beta of 1.20. The stock's 50 day moving average is GBX 216.05 and its 200-day moving average is GBX 207.22.

ME Group International Company Profile

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.