MercadoLibre (MELI) : Investors lapped up stocks on upticks to the tune of $2.26 million in the Tuesdays trading session. The trading value on downticks was comparatively at $0.88 million and the uptick to downtick ratio of 2.57 indicates continuous buying by the bulls. The net money flow into the stock was $1.38 million. Upticks saw transactions worth $0.1 clearly indicating buying by large investors. The total money flow for block trades stood at $0 million, which is a positive for the stock in the long-term. MercadoLibre (MELI) fell $0.02 during the day at $166.55, a drop of -0.01% over the previous days close. However, for the week, the stock is -0.24%, compared to the previous week.
Also, Goldman Sachs initiates coverage on MercadoLibre (NASDAQ:MELI) The brokerage firm has issued a Neutral rating on the shares. The Analysts at the ratings agency announces the price target to $170 per share. The rating by the firm was issued on August 9, 2016.
Shares of Mercadolibre, Inc. rose by 0.1% in the last five trading days and 9.12% for the last 4 weeks. Mercadolibre, Inc. is up 22.56% in the last 3-month period. Year-to-Date the stock performance stands at 46.33%.
MercadoLibre (NASDAQ:MELI): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $167.55 and $166.19 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $167.65. The buying momentum continued till the end and the stock did not give up its gains. It closed at $166.90, notching a gain of 0.20% for the day. The total traded volume was 298,544 . The stock had closed at $166.57 on the previous day.
In a related news, The Securities and Exchange Commission has divulged that Melamud Marcelo, officer (VP – Chief Accounting Officer) of Mercadolibre Inc, had unloaded 786 shares at an average price of $171.31 in a transaction dated on August 15, 2016. The total value of the transaction was worth $134,650.
MercadoLibre, Inc. hosts an online commerce platform in Latin America, which is focused on enabling e-commerce and its related services. The Company provides a portfolio of services facilitating e-commerce transactions in Argentina, Brazil, Chile, Colombia, Costa Rica, Ecuador, Mexico, Peru, Uruguay and Venezuela. The Company also operates online commerce platforms in the Dominican Republic, Panama and Portugal. The Company offers its users an eco-system of six related e-commerce services: the MercadoLibre Marketplace, The MercadoLibre Classifieds Service, the MercadoPago payments solution, the MercadoLibre Advertising program, the MercadoShops online stores solution and the Mercado Envios shipping service. The Company also operates a real estate classified platform that covers some areas of State of Florida in the United States.