ME Group International (LON:MEGP) Shares Up 0.2% - Time to Buy?

Key Points

• ME Group International saw a 0.2% increase in its stock price, trading at GBX 217 ($2.89) with a volume drop of 48% compared to its average session.
• Berenberg Bank has reissued a "buy" rating for ME Group International, setting a price target of GBX 305 ($4.06).
• The company operates across 18 countries with a focus on vending equipment, including photo booths, laundry services, digital printing kiosks, and food vending solutions.

ME Group International plc (LON:MEGP - Get Free Report) shares rose 0.2% during mid-day trading on Tuesday . The stock traded as high as GBX 223.29 ($3.00) and last traded at GBX 217 ($2.92). Approximately 415,838 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 799,438 shares. The stock had previously closed at GBX 216.50 ($2.91).

Wall Street Analyst Weigh In

Separately, Berenberg Bank reissued a "buy" rating and set a GBX 305 ($4.10) target price on shares of ME Group International in a report on Monday, June 2nd.

ME Group International Price Performance

The firm has a market capitalization of £822.96 million, a price-to-earnings ratio of 15.55 and a beta of 1.20. The firm's fifty day moving average is GBX 220.15 and its 200 day moving average is GBX 208.52.

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.