ME Group International (LON:MEGP) Shares Up 9% - Here's What Happened

ME Group International plc (LON:MEGP - Get Free Report) shares shot up 9% during mid-day trading on Thursday . The company traded as high as GBX 230 ($3.09) and last traded at GBX 230 ($3.09). 4,082,390 shares traded hands during trading, an increase of 388% from the average session volume of 837,333 shares. The stock had previously closed at GBX 211 ($2.83).

Analyst Ratings Changes

A number of brokerages have recently issued reports on MEGP. Berenberg Bank reiterated a "buy" rating and set a GBX 305 ($4.09) price target on shares of ME Group International in a research report on Monday, June 2nd. Canaccord Genuity Group lifted their price target on ME Group International from GBX 203 ($2.72) to GBX 235 ($3.15) and gave the company a "buy" rating in a research report on Tuesday, February 25th.

ME Group International Trading Up 0.9%

The company has a market capitalization of £881.88 million, a PE ratio of 16.66 and a beta of 1.20. The stock has a fifty day moving average of GBX 206.01 and a two-hundred day moving average of GBX 205.02.

About ME Group International

ME Group International plc LSE: MEGP operates, sells and services a wide range of instant-service vending equipment, primarily aimed at the consumer market. The Group operates vending units across 18 countries and its technological innovation is focused on four principal areas: • Photo.ME - Photobooths and integrated biometric identification solutions • Wash.ME - Unattended laundry services and launderettes • Print.ME - High-quality digital printing kiosks • Feed.ME - Vending equipment for the food service market In addition, the Group operates other vending equipment such as children's rides, amusement machines, and business service equipment. Whilst the Group both sells and services this equipment, the majority of units are owned, operated and maintained by the Group.

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