Magic Empire Global Limited [NASDAQ: MEGL] closed the trading session at $2.30 on 01/05/23. The day’s price range saw the stock hit a low of $1.51, while the highest price level was $2.90. The company report on August 10, 2022 that Magic Empire Global Limited Announced Closing of Initial Public Offering.
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The aggregate gross proceeds from the Offering were $20 million, before deducting underwriting discounts and other related expenses. The ordinary shares began trading on The Nasdaq Capital Market on August 5, 2022 under the ticker symbol “MEGL.”.
The stocks have a year to date performance of 78.29 percent and weekly performance of 84.00 percent. The stock has performed 9.52 percent around the most recent 30 days and changed -37.67 percent over the most recent 3-months.
If compared to the average trading volume of 415.12K shares, MEGL reached to a volume of 25173185 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Magic Empire Global Limited [MEGL]:
The Average True Range (ATR) for Magic Empire Global Limited is set at 0.25, with the Price to Sales ratio for MEGL stock in the period of the last 12 months amounting to 20.91. The Price to Book ratio for the last quarter was 11.56, with the Price to Cash per share for the same quarter was set at 0.07. Price to Free Cash Flow for MEGL in the course of the last twelve months was 460.00 with Quick ratio for the last quarter at 1.20.
MEGL stock trade performance evaluation
Magic Empire Global Limited [MEGL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 84.00.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MEGL stock in for the last two-week period is set at 61.23, with the RSI for the last a single of trading hit 76.49, and the three-weeks RSI is set at 40.89 for Magic Empire Global Limited [MEGL]. The present Moving Average for the last 50 days of trading for this stock 2.09, while it was recorded at 1.49 for the last single week of trading.
Magic Empire Global Limited [MEGL]: An insightful look at the core fundamentals
Magic Empire Global Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.
Magic Empire Global Limited [MEGL]: Insider Ownership positions
There are presently around $0 million, or 0.50% of MEGL stock, in the hands of institutional investors. The top three institutional holders of MEGL stocks are: MORGAN STANLEY with ownership of 29,632, which is approximately New of the company’s market cap and around 63.02% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 22,771 shares of the stock with an approximate value of $52000.0 in MEGL stocks shares; and UBS GROUP AG, currently with $48000.0 in MEGL stock with ownership of nearly New of the company’s market capitalization.
7 institutional holders increased their position in Magic Empire Global Limited [NASDAQ:MEGL] by around 102,267 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 102,267 shares, according to the latest SEC report filing. MEGL stock had 7 new institutional investments in for a total of 102,267 shares, while 0 institutional investors sold positions of 0 shares during the same period.