ME Group International (LON:MEGP) Trading Down 0.4% - Here's Why

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 was down 0.4% during mid-day trading on Thursday . The stock traded as low as GBX 189 ($2.55) and last traded at GBX 190.40 ($2.57). Approximately 263,379 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 758,910 shares. The stock had previously closed at GBX 191.20 ($2.58).

Analysts Set New Price Targets

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

ME Group International Price Performance

The stock has a fifty day moving average price of GBX 206.65 and a 200 day moving average price of GBX 205.12. The stock has a market capitalization of £712.32 million, a P/E ratio of 1,253.99 and a beta of 1.20.

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.