Magic Empire Global (NASDAQ:MEGL) Trading 1.8% Higher – Still a Buy?

Magic Empire Global Limited (NASDAQ:MEGL) was up 1.8% during trading on Friday . The company traded as high as $1.24 and last traded at $1.2316. Approximately 5,414 shares were traded during trading, a decline of 64% from the average daily volume of 15,064 shares. The stock had previously closed at $1.21.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Magic Empire Global in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Magic Empire Global Stock Up 1.8%

The business’s 50 day moving average price is $1.27 and its 200 day moving average price is $1.42.

Magic Empire Global (NASDAQ:MEGL) last announced its earnings results on Friday, October 17th. The company reported ($0.45) earnings per share (EPS) for the quarter. The company had revenue of $0.33 million for the quarter.

Institutional Investors Weigh In On Magic Empire Global

A hedge fund recently bought a new stake in Magic Empire Global stock. Virtu Financial LLC purchased a new position in shares of Magic Empire Global Limited (NASDAQ:MEGL) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 21,731 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned 0.53% of Magic Empire Global at the end of the most recent quarter. 0.51% of the stock is owned by institutional investors.

Magic Empire Global Company Profile

Magic Empire Global Ltd (NASDAQ: MEGL) is a technology-driven company that specializes in the design, manufacturing and distribution of smart hardware and entertainment solutions. Its core offerings include virtual reality (VR) and augmented reality (AR) gaming systems tailored for theme parks, family entertainment centers, museums and esports venues. The company also develops high-end ergonomic computer desks and chairs equipped with integrated connectivity features, targeting both home users and business customers.

Through its vertically integrated model, Magic Empire Global oversees product design, in-house manufacturing and global logistics from its facilities in Guangdong province.