Montrose Environmental Group Inc (NYSE: MEG)’s stock price has gone decline by -7.48 in comparison to its previous close of 17.79, however, the company has experienced a -25.05% decrease in its stock price over the last five trading days. prnewswire.com reported 2024-11-11 that LITTLE ROCK, Ark., Nov. 11, 2024 /PRNewswire/ — Montrose Environmental Group, Inc. (the “Company,” “Montrose” or “MEG”) (NYSE: MEG) today announced that the Company will attend the Baird 2024 Global Industrial Conference in Chicago, IL on Tuesday, November 12, 2024.
Is It Worth Investing in Montrose Environmental Group Inc (NYSE: MEG) Right Now?
Moreover, the 36-month beta value for MEG is 1.80. Analysts have varying opinions on the stock, with 4 analysts rating it as a “buy,” 3 as “overweight,” 2 as “hold,” and 0 as “sell.”
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The public float for MEG is 31.16M and currently, short sellers hold a 10.95% of that float. On November 20, 2024, MEG’s average trading volume was 609.71K shares.
MEG’s Market Performance
MEG stock saw a decrease of -25.05% in the past week, with a monthly decline of -40.32% and a quarterly a decrease of -51.72%. The volatility ratio for the week is 9.13%, and the volatility levels for the last 30 days are 7.49% for Montrose Environmental Group Inc (MEG). The simple moving average for the last 20 days is -30.61% for MEG’s stock, with a simple moving average of -53.57% for the last 200 days.
Analysts’ Opinion of MEG
Many brokerage firms have already submitted their reports for MEG stocks, with JP Morgan repeating the rating for MEG by listing it as a “Neutral.” The predicted price for MEG in the upcoming period, according to JP Morgan is $29 based on the research report published on November 08, 2024 of the current year 2024.
Evercore ISI gave a rating of “Outperform” to MEG, setting the target price at $43 in the report published on August 14th of the current year.
MEG Trading at -34.19% from the 50-Day Moving Average
After a stumble in the market that brought MEG to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -67.06% of loss for the given period.
Volatility was left at 7.49%, however, over the last 30 days, the volatility rate increased by 9.13%, as shares sank -39.35% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -39.15% lower at present.
During the last 5 trading sessions, MEG fell by -25.05%, which changed the moving average for the period of 200-days by -47.18% in comparison to the 20-day moving average, which settled at $23.72. In addition, Montrose Environmental Group Inc saw -48.77% 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 MEG starting from Manthripragada Vijay, who sale 12,500 shares at the price of $46.51 back on May 06 ’24. After this action, Manthripragada Vijay now owns 316,637 shares of Montrose Environmental Group Inc, valued at $581,388 using the latest closing price.
Stock Fundamentals for MEG
Current profitability levels for the company are sitting at:
- -0.03 for the present operating margin
- 0.38 for the gross margin
The net margin for Montrose Environmental Group Inc stands at -0.06. The total capital return value is set at -0.02. Equity return is now at value -7.04, with -3.86 for asset returns.
Based on Montrose Environmental Group Inc (MEG), the company’s capital structure generated 0.41 points at debt to capital in total, while cash flow to debt ratio is standing at 0.02. The debt to equity ratio resting at 0.68. The interest coverage ratio of the stock is -1.57.
Currently, EBITDA for the company is 31.93 million with net debt to EBITDA at 7.5. When we switch over and look at the enterprise to sales, we see a ratio of 1.27. The receivables turnover for the company is 4.4for trailing twelve months and the total asset turnover is 0.67. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.93.
Conclusion
To wrap up, the performance of Montrose Environmental Group Inc (MEG) has been bad in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. 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.
