Magic Empire Global (NASDAQ:MEGL) Stock Price Down 1.8% – Here’s Why

Magic Empire Global Limited (NASDAQ:MEGL)’s stock price was down 1.8% during mid-day trading on Thursday . The stock traded as low as $1.12 and last traded at $1.12. 6,111 shares changed hands during trading, a decline of 43% from the average daily volume of 10,641 shares. The stock had previously closed at $1.14.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Magic Empire Global in a research report on Friday, June 26th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Magic Empire Global Stock Up 0.9%

The business’s 50-day moving average price is $1.18 and its 200-day moving average price is $1.16.

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.