Short Interest in Melco International Development Limited (OTCMKTS:MDEVF) Drops By 52.8%

Melco International Development Limited (OTCMKTS:MDEVF – Get Rating) saw a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 790,000 shares, a drop of 52.8% from the April 30th total of 1,672,500 shares. Based on an average daily volume of 14,000 shares, the short-interest ratio is presently 56.4 days.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upgraded Melco International Development from a “neutral” rating to an “overweight” rating in a report on Wednesday, March 15th.

Melco International Development Stock Up 1.1 %

Shares of MDEVF traded up $0.01 during mid-day trading on Friday, hitting $0.93. The company’s stock had a trading volume of 14,000 shares, compared to its average volume of 7,302. Melco International Development has a one year low of $0.50 and a one year high of $1.42. The stock’s 50-day moving average is $1.13 and its two-hundred day moving average is $1.13.

About Melco International Development

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Melco International Development Limited, an investment holding company, engages in the leisure and entertainment business in Macau, the Philippines, Cyprus, Japan, and Hong Kong. It operates in two segments, Casino and Hospitality, and Others. The company develops, owns, and operates a network of casino gaming and entertainment casino resorts.