Meritage Hospitality Group (OTCMKTS:MHGU) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

Meritage Hospitality Group Inc. (OTCMKTS:MHGU)’s share price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $2.58 and traded as low as $2.00. Meritage Hospitality Group shares last traded at $2.3135, with a volume of 879 shares.

Meritage Hospitality Group Price Performance

The company has a quick ratio of 0.07, a current ratio of 0.09 and a debt-to-equity ratio of 0.03. The stock has a market cap of $15.59 million, a P/E ratio of -0.45 and a beta of -0.07. The firm’s fifty day moving average price is $2.58 and its 200-day moving average price is $3.66.

Meritage Hospitality Group (OTCMKTS:MHGU) last released its quarterly earnings results on Monday, March 30th. The company reported ($2.28) earnings per share for the quarter, missing the consensus estimate of $0.48 by ($2.76). The company had revenue of $144.99 million during the quarter, compared to the consensus estimate of $177.20 million. Meritage Hospitality Group had a negative net margin of 5.14% and a negative return on equity of 23.95%.

About Meritage Hospitality Group

Meritage Hospitality Group (OTCMKTS: MHGU) is a diversified hospitality company that invests in, develops and manages limited- and select-service hotels across the United States. The company’s core activities include identifying and acquiring strategic hotel assets, securing franchise affiliations with prominent lodging brands and overseeing day-to-day property operations through its in-house management platform. Meritage’s vertically integrated model seeks to capture value at each stage of the hotel lifecycle, from site selection and development to ongoing asset management and performance optimization.

Meritage partners with leading national and global hotel franchisors, typically operating under brands within the Marriott, Choice and IHG portfolios.