Magic Empire Global Limited (NASDAQ: MEGL) stock fell -10.00% on Monday to $2.52 against a previous-day closing price of $2.80. With 1.07 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.33 million shares. During the session, the Capital Markets company that operates in wider Financial sector, reached to the highest price of $3.0800 whereas the lowest price it dropped to was $2.5200. The 52-week range on MEGL shows that it touched its highest point at $249.94 and its lowest point at $1.20 during that stretch.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MEGL was up-trending over the past week, with a rise of 21.15%, but this was up by 58.49% over a month.
Float and Shares Shorts:
At present, 20.00 million MEGL shares are outstanding with a float of 7.40 million shares on hand for trading. On Oct 13, 2022, short shares totaled 0.14 million, which was 0.69% higher than short shares on Sep 14, 2022. In addition to Mr. Sze Hon Chen as the firm’s CEO & Director, Ms. Yau Ting Tai CPA serves as its Chief Financial Officer.
Through their ownership of 0.11% of MEGL’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 0.50% of MEGL, in contrast to 0.01% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in MEGL with 0.11% of the stake, Geode Capital Management LLC holds 22,771 shares worth 22,771. A second-largest stockholder of MEGL, UBS Securities LLC, holds 20,723 shares, controlling over 0.10% of the firm’s shares. Morgan Stanley & Co. LLC is the third largest shareholder in MEGL, holding 18,203 shares or 0.09% stake. With a 0.01% stake in MEGL, the Fidelity Nasdaq Composite Index F is the largest stakeholder. A total of 2,805 shares are owned by the mutual fund manager.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MEGL since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.