Magic Empire Global (NASDAQ:MEGL) Trading 1.7% Higher – What’s Next?

Magic Empire Global Limited (NASDAQ:MEGL) rose 1.7% during mid-day trading on Wednesday . The company traded as high as $1.2082 and last traded at $1.19. 2,423 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 12,171 shares. The stock had previously closed at $1.17.

Analyst Upgrades and Downgrades

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

Magic Empire Global Stock Performance

The company has a fifty day moving average price of $1.19 and a 200-day moving average price of $1.13.

Institutional Trading of Magic Empire Global

An institutional investor recently bought a new position in Magic Empire Global stock. Virtu Financial LLC bought a new stake in Magic Empire Global Limited (NASDAQ:MEGL) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,731 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned approximately 0.53% of Magic Empire Global at the end of the most recent quarter. 0.51% of the stock is currently owned by institutional investors.

About Magic Empire Global

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.