ME Group International (LON:MEGP) Stock Price Up 3.5% – Here’s Why

ME Group International plc (LON:MEGP)’s share price shot up 3.5% on Thursday . The company traded as high as GBX 204.70 ($2.49) and last traded at GBX 204.50 ($2.49). 22,709,703 shares were traded during trading, an increase of 572% from the average session volume of 3,378,688 shares. The stock had previously closed at GBX 197.60 ($2.40).

Wall Street Analyst Weigh In

Separately, Berenberg Bank restated a “buy” rating and set a GBX 270 ($3.29) price target on shares of ME Group International in a research note on Wednesday, December 4th.

ME Group International Trading Down 1.5 %

The company’s fifty day simple moving average is GBX 212.09 and its 200 day simple moving average is GBX 200.01. The stock has a market capitalization of £759.17 million, a P/E ratio of 1,439.29 and a beta of 1.20.

ME Group International Company Profile

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.