Magic Empire Global Ltd (MEGL) Stock Could Soon Reward Patient Investors

Magic Empire Global Ltd (NASDAQ: MEGL) is 66.51% higher on its value in year-to-date trading and has touched a low of $0.41 and a high of $1.47 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MEGL stock was last observed hovering at around $0.56 in the last trading session, with the day’s gains setting it 0.34%.

Currently trading at $0.90, the stock is 69.27% and 74.60% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 78.84 million and changing 59.94% at the moment leaves the stock 63.42% off its SMA200. MEGL registered -33.90% loss for a year compared to 6-month loss of 69.59%. The firm has a 50-day simple moving average (SMA 50) of $0.50622 and a 200-day simple moving average (SMA200) of $0.548765.

The stock witnessed a 83.54% gain in the last 1 month and extending the period to 3 months gives it a 36.21%, and is 63.66% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 24.13% over the week and 11.90% over the month.

Magic Empire Global Ltd (MEGL) has around 8 employees, a market worth around $19.76M and $1.97M in sales. Profit margin for the company is -3.78%. Distance from 52-week low is 121.16% and -38.84% from its 52-week high. The company has generated returns on investments over the last 12 months (-0.43%).

Magic Empire Global Ltd (MEGL) Top Institutional Holders

The shares outstanding are 20.26M, and float is at 9.64M with Short Float at 0.97%.

The top institutional shareholder in the company is CITADEL ADVISORS LLC with over 36659.0 shares valued at $20111.0. The investor’s holdings represent 0.181% of the MEGL Shares outstanding. As of 2024-06-30, the second largest holder is UBS GROUP AG with 22641.0 shares valued at $$12226.0 to account for 0.1118 of the shares outstanding. The other top investors are HRT FINANCIAL LP which holds 15717.0 shares representing 0.0776% and valued at over $8000.0, while MORGAN STANLEY holds 0.0232 of the shares totaling 4708.0 with a market value of $2542.0.