ME Group International (LON:MEGP) Trading Up 0.7% – Here’s Why

Shares of ME Group International plc (LON:MEGP) traded up 0.7% during mid-day trading on Friday . The company traded as high as GBX 221.55 ($2.75) and last traded at GBX 221.11 ($2.74). 229,071 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 700,334 shares. The stock had previously closed at GBX 219.50 ($2.72).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 270 ($3.35) price target on shares of ME Group International in a research note on Wednesday, December 4th.

ME Group International Stock Performance

The company has a market cap of £833.07 million, a P/E ratio of 1,579.39 and a beta of 1.20. The firm’s 50-day simple moving average is GBX 209.28 and its 200 day simple moving average is GBX 203.28.

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.