The stock of Magnite Inc (NASDAQ: MGNI) has increased by 2.94 when compared to last closing price of 8.84. Despite this, the company has experienced a 6.06% gain in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-09 that In the most recent trading session, Magnite (MGNI) closed at $9.97, indicating a +1.22% shift from the previous trading day.
Is It Worth Investing in Magnite Inc (NASDAQ: MGNI) Right Now?
MGNI has 36-month beta value of 2.28. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for MGNI is 122.17M, and currently, short sellers hold a 4.94% ratio of that float. The average trading volume of MGNI on April 25, 2024 was 1.18M shares.
MGNI’s Market Performance
MGNI stock saw a decrease of 6.06% in the past week, with a monthly decline of -12.08% and a quarterly a decrease of -1.52%. The volatility ratio for the week is 3.66%, and the volatility levels for the last 30 days are 3.75% for Magnite Inc (MGNI). The simple moving average for the last 20 days is -4.51% for MGNI stock, with a simple moving average of -3.80% for the last 200 days.
Analysts’ Opinion of MGNI
Many brokerage firms have already submitted their reports for MGNI stocks, with B. Riley Securities repeating the rating for MGNI by listing it as a “Buy.” The predicted price for MGNI in the upcoming period, according to B. Riley Securities is $14.50 based on the research report published on April 19, 2024 of the current year 2024.
BofA Securities, on the other hand, stated in their research note that they expect to see MGNI reach a price target of $11. The rating they have provided for MGNI stocks is “Neutral” according to the report published on January 11th, 2024.
Evercore ISI gave a rating of “Outperform” to MGNI, setting the target price at $14 in the report published on August 16th of the previous year.
MGNI Trading at -11.21% 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 -42.15% of loss for the given period.
Volatility was left at 3.75%, however, over the last 30 days, the volatility rate increased by 3.66%, as shares sank -13.09% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -5.70% lower at present.
During the last 5 trading sessions, MGNI rose by +6.06%, which changed the moving average for the period of 200-days by -34.11% in comparison to the 20-day moving average, which settled at $9.46. In addition, Magnite Inc saw -2.57% 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 BARRETT MICHAEL G., who sale 75,000 shares at the price of $11.21 back on Mar 15 ’24. After this action, BARRETT MICHAEL G. now owns 1,234,662 shares of Magnite Inc, valued at $840,750 using the latest closing price.
Soroca Adam Lee, the CHIEF PRODUCT OFFICER of Magnite Inc, sale 17,245 shares at $11.32 during a trade that took place back on Mar 14 ’24, which means that Soroca Adam Lee is holding 493,467 shares at $195,213 based on the most recent closing price.
Stock Fundamentals for MGNI
Current profitability levels for the company are sitting at:
- -0.24 for the present operating margin
- 0.33 for the gross margin
The net margin for Magnite Inc stands at -0.26. The total capital return value is set at -0.11. Equity return is now at value -21.32, with -5.89 for asset returns.
Based on Magnite Inc (MGNI), the company’s capital structure generated 0.44 points at debt to capital in total, while cash flow to debt ratio is standing at 0.38. The debt to equity ratio resting at 0.79. The interest coverage ratio of the stock is -4.52.
Currently, EBITDA for the company is 93.28 million with net debt to EBITDA at 2.88. When we switch over and look at the enterprise to sales, we see a ratio of 2.51. The receivables turnover for the company is 0.53for trailing twelve months and the total asset turnover is 0.23. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.09.
Conclusion
To put it simply, Magnite Inc (MGNI) has had a mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating 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.
