Magazine Luiza (OTCMKTS:MGLUY) Trading 4.7% Higher – Still a Buy?

Magazine Luiza S.A. (OTCMKTS:MGLUY) shares shot up 4.7% during mid-day trading on Monday . The stock traded as high as $3.7750 and last traded at $3.59. 355 shares traded hands during trading, an increase of 10% from the average session volume of 322 shares. The stock had previously closed at $3.43.

Analysts Set New Price Targets

Separately, Citigroup upgraded Magazine Luiza to a “neutral” rating in a research note on Friday, June 5th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Magazine Luiza Price Performance

The business’s 50 day simple moving average is $5.55 and its 200 day simple moving average is $6.56.

About Magazine Luiza

Magazine Luiza SA engages in the retail sale of consumer goods. It operates through Retail, Financial Operations, Insurance Operations, and Other Services segments. The company also grants credit and provides extended warranties for its products. In addition, it is involved in the provision of consortium and management services; and e-commerce of perfumes, cosmetics, sports, and fashion products, as well as product delivery management and software development services. Further, the company provides integration, logistics, and technological solutions, as well as resale goods and provision of services in the stores, electronic and food delivery management platform.