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Buy or Sell Magnite Inc. (MGNI) Stock Now | Don’t Try to Be a Top Gun

Magnite Inc. (NASDAQ:MGNI) went up by 8.92% from its latest closing price compared to the recent 1-year high of $14.96. The company’s stock price has collected 8.97% of gains in the last five trading sessions. Barron’s reported on 06/24/22 that As Netflix Explores Ad Partnerships, Google, Comcast, and Magnite Could Be Top Contenders

Is It Worth Investing in Magnite Inc. (NASDAQ :MGNI) Right Now?

Plus, the 36-month beta value for MGNI is at 2.16. Opinions of the stock are interesting as 9 analysts out of 11 who provided ratings for Magnite Inc. declared the stock was a “buy,” while 1 rated the stock as “overweight,” 1 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $14.15, which is $3.34 above the current price. MGNI currently public float of 117.93M and currently shorts hold a 6.82% ratio of that float. Today, the average trading volume of MGNI was 1.94M shares.

MGNI’s Market Performance

MGNI stocks went up by 8.97% for the week, with a monthly drop of -0.73% and a quarterly performance of 56.44%, while its annual performance rate touched -19.99%. The volatility ratio for the week stands at 6.40% while the volatility levels for the past 30 days are set at 6.09% for Magnite Inc. The simple moving average for the period of the last 20 days is 6.12% for MGNI stocks with a simple moving average of 16.48% for the last 200 days.

Analysts’ Opinion of MGNI

Many brokerage firms have already submitted their reports for MGNI stocks, with The Benchmark Company repeating the rating for MGNI by listing it as a “Buy.” The predicted price for MGNI in the upcoming period, according to The Benchmark Company is $18 based on the research report published on July 14th of the previous year 2022.

Berenberg, on the other hand, stated in their research note that they expect to see MGNI reach a price target of $37. The rating they have provided for MGNI stocks is “Buy” according to the report published on September 22nd, 2021.

Macquarie gave a rating of “Outperform” to MGNI, setting the target price at $39 in the report published on August 31st of the previous year.

MGNI Trading at 3.30% from the 50-Day Moving Average

After a stumble in the market that brought MGNI to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -27.74% of loss for the given period.

Volatility was left at 6.09%, however, over the last 30 days, the volatility rate increased by 6.40%, as shares sank -4.42% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +73.79% upper at present.

During the last 5 trading sessions, MGNI rose by +8.97%, which changed the moving average for the period of 200-days by -21.55% in comparison to the 20-day moving average, which settled at $10.16. In addition, Magnite Inc. saw 2.08% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at MGNI starting from BARRETT MICHAEL G., who sale 75,000 shares at the price of $11.58 back on Nov 15. After this action, BARRETT MICHAEL G. now owns 1,430,236 shares of Magnite Inc., valued at $868,486 using the latest closing price.

Lam Rachel, the Director of Magnite Inc., purchase 2,500 shares at $9.00 during a trade that took place back on May 11, which means that Lam Rachel is holding 186,763 shares at $22,500 based on the most recent closing price.

Stock Fundamentals for MGNI

Current profitability levels for the company are sitting at:

  • -9.16 for the present operating margin
  • +42.27 for the gross margin

The net margin for Magnite Inc. stands at +0.01. Equity return is now at value -11.20, with -3.60 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 1.14.

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