ME Group International (LON:MEGP) Trading Down 0.4% - What's Next?

Key Points

• ME Group International's share price decreased by 0.4% to GBX 190.40 ($2.58) during mid-day trading, with a significant drop in trading volume of 65% from the average session.
• Berenberg Bank has reaffirmed a "buy" rating on ME Group International and set a price target of GBX 305, reflecting a positive outlook on the stock.
• The company operates over 48,000 vending units across 16 countries, positioning itself as a leader in automated self-service equipment for the consumer market.

ME Group International plc (LON:MEGP - Get Free Report)'s share price fell 0.4% during trading on Thursday . The company traded as low as GBX 189 ($2.55) and last traded at GBX 190.40 ($2.57). 263,379 shares changed hands during trading, a decline of 65% from the average session volume of 758,910 shares. The stock had previously closed at GBX 191.20 ($2.58).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank restated a "buy" rating and set a GBX 305 price objective on shares of ME Group International in a research note on Monday, June 2nd. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of GBX 270.

ME Group International Trading Down 0.8%

The firm has a market cap of £706.28 million, a price-to-earnings ratio of 1,243.35 and a beta of 1.20. The stock's 50 day moving average is GBX 206.01 and its 200 day moving average is GBX 205.16.

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.