Magic Empire Global Ltd (NASDAQ: MEGL) is -8.78% lower on its value in year-to-date trading and has touched a low of $1.02 and a high of $5.52 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The MEGL stock was last observed hovering at around $2.05 in the last trading session, with the day’s loss setting it -0.08%.
Currently trading at $1.97, the stock is 39.89% and 44.62% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.99 million and changing -3.90% at the moment leaves the stock 7.87% off its SMA200. MEGL registered -15.96% loss for a year compared to 6-month loss of -0.12%. The firm has a 50-day simple moving average (SMA 50) of $1.36224 and a 200-day simple moving average (SMA200) of $0.88284.
The stock witnessed a 19.39% gain in the last 1 month and extending the period to 3 months gives it a 43.80%, and is 45.93% 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 24.60% over the week and 11.36% over the month.
Magic Empire Global Ltd (MEGL) has around 8 employees, a market worth around $15.88M and $1.64M in sales. Profit margin for the company is -37.11%. Distance from 52-week low is 93.14% and -64.31% from its 52-week high. The company has generated returns on investments over the last 12 months (-3.56%).
4.0 institutions hold shares in Magic Empire Global Ltd (MEGL), with institutional investors hold 1.65% of the company’s shares. The shares outstanding are 4.06M, and float is at 1.43M with Short Float at 2.54%. Institutions hold 0.98% of the Float.
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.
