Magnite Inc. (NASDAQ: MGNI)’s stock price has decreased by -1.16 compared to its previous closing price of 8.59. Despite this, the company has experienced a -16.93% fall in its stock price over the last five trading sessions.
Is It Worth Investing in Magnite Inc. (NASDAQ: MGNI) Right Now?
and a 36-month beta value of 2.20.
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The public float for MGNI is 117.93M, and at present, short sellers hold a 7.58% of that float. On March 15, 2023, the average trading volume of MGNI was 1.81M shares.
MGNI’s Market Performance
The stock of Magnite Inc. (MGNI) has seen a -16.93% decrease in the past week, with a -27.93% drop in the past month, and a -23.51% fall in the past quarter. The volatility ratio for the week is 6.83%, and the volatility levels for the past 30 days are at 6.44% for MGNI. The simple moving average for the last 20 days is -24.86% for MGNI stock, with a simple moving average of -9.83% 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 -23.62% 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 -42.91% of loss for the given period.
Volatility was left at 6.44%, however, over the last 30 days, the volatility rate increased by 6.83%, as shares sank -29.01% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -21.75% lower at present.
During the last 5 trading sessions, MGNI fell by -16.93%, which changed the moving average for the period of 200-days by -13.10% in comparison to the 20-day moving average, which settled at $11.13. In addition, Magnite Inc. saw -19.83% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MGNI starting from Evans Katie Seitz, who sale 78,155 shares at the price of $10.99 back on Mar 01. After this action, Evans Katie Seitz now owns 392,393 shares of Magnite Inc., valued at $858,923 using the latest closing price.
BARRETT MICHAEL G., the CEO of Magnite Inc., sale 75,000 shares at $11.58 during a trade that took place back on Nov 15, which means that BARRETT MICHAEL G. is holding 1,430,236 shares at $868,486 based on the most recent closing price.
Stock Fundamentals for MGNI
Equity return is now at value -16.00, with -5.00 for asset returns.
Conclusion
To sum up, Magnite Inc. (MGNI) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
