The stock has a 36-month beta value of 2.91.
The public float for MEGL is 9.64M, and at present, short sellers hold a 0.14% of that float. On September 23, 2024, the average trading volume of MEGL was 91.61K shares.
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MEGL) stock’s latest price update
The stock price of Magic Empire Global Ltd (NASDAQ: MEGL) has jumped by 12.63 compared to previous close of 0.45. Despite this, the company has seen a gain of 12.00% in its stock price over the last five trading days. globenewswire.com reported 2024-08-28 that Hong Kong, Aug. 28, 2024 (GLOBE NEWSWIRE) — Magic Empire Global Limited (NASDAQ: MEGL) (“MEGL”, or the “Company”) has announced that on August 27, 2024, the Company received a letter from Nasdaq, notifying the Company that Nasdaq has determined the Company is eligible for an additional 180 calendar day period, or until February 24, 2025, to regain compliance with the minimum bid price of $1 per share requirement pursuant to the continued listing requirement of Nasdaq under Nasdaq Listing Rules 5550(a)(2). This is based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the Capital Market with the exception of the bid price requirement, and the Company’s written notice to Nasdaq dated August 19, 2024, noting of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. If compliance cannot be demonstrated by February 24, 2025, Nasdaq will provide written notification that the Company’s securities will be delisted. At that time, the Company may appeal the determination to a hearing panel.
MEGL’s Market Performance
Magic Empire Global Ltd (MEGL) has experienced a 12.00% rise in stock performance for the past week, with a 10.14% rise in the past month, and a -11.95% drop in the past quarter. The volatility ratio for the week is 8.36%, and the volatility levels for the past 30 days are at 9.04% for MEGL. The simple moving average for the past 20 days is 11.61% for MEGL’s stock, with a -24.98% simple moving average for the past 200 days.
MEGL Trading at 3.22% from the 50-Day Moving Average
After a stumble in the market that brought MEGL to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -65.71% of loss for the given period.
Volatility was left at 9.04%, however, over the last 30 days, the volatility rate increased by 8.36%, as shares surge +8.39% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -7.52% lower at present.
During the last 5 trading sessions, MEGL rose by +12.00%, which changed the moving average for the period of 200-days by -42.20% in comparison to the 20-day moving average, which settled at $0.4535. In addition, Magic Empire Global Ltd saw -57.41% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for MEGL
Current profitability levels for the company are sitting at:
- -0.2 for the present operating margin
- 1.0 for the gross margin
The net margin for Magic Empire Global Ltd stands at -0.04. The total capital return value is set at -0.02. Equity return is now at value -0.36, with -0.34 for asset returns.
Currently, EBITDA for the company is 3.72 million with net debt to EBITDA at -38.93. When we switch over and look at the enterprise to sales, we see a ratio of -0.81. The receivables turnover for the company is 5.01for trailing twelve months and the total asset turnover is 0.1. The liquidity ratio also appears to be rather interesting for investors as it stands at 24.13.
Conclusion
To sum up, Magic Empire Global Ltd (MEGL) has seen a mixed 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.
