Mobile Global Esports Inc [MGAM] Is Currently -3.34 below its 200 Period Moving Avg: What Does This Mean?

Mobile Global Esports Inc [NASDAQ: MGAM] loss -3.34% or -0.01 points to close at $0.22 with a heavy trading volume of 132400 shares. The company report on February 13, 2024 at 6:00 AM that MOGO Partners With Sage University, Bhopal for AIU Esports Championship.

MOGO – Mobile Global Esports Inc. through its subsidiary MOGO Esports Pvt. Ltd. is proud to announce the establishment of a new home for the highly anticipated All India University Esports Championship. MOGO has established a partnership with Sage University, Bhopal, for the biggest National University Esports tournament this year. This collaboration is a momentous milestone in the Indian esports arena, to bolster the esports ecosystem within the country.

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As one of the leading platforms for esports geeks, MOGO strives to stimulate competitive gaming on a global scale. By providing unequalled gaming experience, MOGO has consistently spearheaded initiatives that unite players, fans, and industry stakeholders. The collaboration with Sage University, MOGO is poised to further solidify its position as a catalyst for the growth and development of esports in India.

The daily chart for MGAM points out that the company has recorded -52.40% loss over the past six months.

If we look at the average trading volume of 579.60K shares, MGAM reached to a volume of 132400 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Mobile Global Esports Inc [MGAM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MGAM shares is $1.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MGAM stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for Mobile Global Esports Inc is set at 0.03 The Price to Book ratio for the last quarter was 0.80, with the Price to Cash per share for the same quarter was set at 0.22.

Trading performance analysis for MGAM stock

Mobile Global Esports Inc [MGAM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.38. With this latest performance, MGAM shares dropped by -20.92% in over the last four-week period, additionally sinking by -52.40% over the last 6 months – not to mention a drop of -84.73% in the past year of trading.

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 MGAM stock in for the last two-week period is set at 36.77, with the RSI for the last a single of trading hit 34.37, and the three-weeks RSI is set at 39.13 for Mobile Global Esports Inc [MGAM]. The present Moving Average for the last 50 days of trading for this stock 0.2917, while it was recorded at 0.2266 for the last single week of trading, and 0.4199 for the last 200 days.

Mobile Global Esports Inc [MGAM]: A deeper dive into fundamental analysis

Mobile Global Esports Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.43 and a Current Ratio set at 8.43.

An analysis of Institutional ownership at Mobile Global Esports Inc [MGAM]

The top three institutional holders of MGAM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MGAM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MGAM stock with ownership which is approximately 5.8325%.