Magic Empire Global (NASDAQ:MEGL) Shares Down 2.1% – Here’s What Happened

Magic Empire Global Limited (NASDAQ:MEGL) traded down 2.1% during mid-day trading on Monday . The stock traded as low as $1.17 and last traded at $1.17. Approximately 3,787 shares changed hands during trading, a decline of 90% from the average daily volume of 39,100 shares. The stock had previously closed at $1.1950.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Magic Empire Global in a research report on Friday, June 26th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Magic Empire Global currently has a consensus rating of “Sell”.

Magic Empire Global Trading Up 1.3%

The firm has a 50-day moving average of $1.21 and a two-hundred day moving average of $1.14.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Magic Empire Global stock. Citadel Advisors LLC purchased a new stake in Magic Empire Global Limited (NASDAQ:MEGL) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 26,900 shares of the company’s stock, valued at approximately $41,000. Citadel Advisors LLC owned approximately 0.66% of Magic Empire Global at the end of the most recent quarter. Institutional investors own 0.51% of the company’s stock.

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.