Magic Empire Global Limited (NASDAQ: MEGL) stock jumped 2.63% on Thursday to $1.95 against a previous-day closing price of $1.90. With 0.18 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.4 million shares. During the session, the Capital Markets company that operates in wider Financial sector, reached to the highest price of $1.9667 whereas the lowest price it dropped to was $1.8619. The 52-week range on MEGL shows that it touched its highest point at $249.94 and its lowest point at $0.89 during that stretch.
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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 10.80%, but this was up by 95.00% over a month. Three-month performance surged to 12.72% while six-month performance fell -19.42%.
Float and Shares Shorts:
At present, 20.51 million MEGL shares are outstanding with a float of 7.40 million shares on hand for trading. On May 14, 2023, short shares totaled 0.3 million, which was 1.48% higher than short shares on Apr 13, 2023. 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 0.93% of MEGL’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 0.57% of MEGL, in contrast to 0.04% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in MEGL with 0.22% of the stake, Schonfeld Strategic Advisors LLC holds 44,200 shares worth 44,200. A second-largest stockholder of MEGL, Bank of America, NA, holds 15,466 shares, controlling over 0.08% of the firm’s shares. Citadel Securities LLC is the third largest shareholder in MEGL, holding 14,418 shares or 0.07% stake. With a 0.04% stake in MEGL, the Fidelity Nasdaq Composite Index F is the largest stakeholder. A total of 8,293 shares are owned by the mutual fund manager.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. Over the past year, revenue came in at $17.40M while operating income stood at $3.23M. EBITDA for the full year was $3.38M.
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.