Magic Empire Global Limited (NASDAQ:MEGL) Stock Short Interest Climbs 660.9%

Magic Empire Global Limited (NASDAQ:MEGL) saw a significant growth in short interest in October. As of October 30th, there was short interest totaling 372,293 shares, a growth of 660.9% from the October 15th total of 48,930 shares. Based on an average daily volume of 3,928,025 shares, the short-interest ratio is currently 0.1 days. Currently, 24.8% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Magic Empire Global in a research note on Tuesday, September 22nd. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Magic Empire Global Trading Down 17.4%

Shares of Magic Empire Global stock opened at $0.11 on Wednesday. Magic Empire Global has a 1 year low of $0.10 and a 1 year high of $1.54. The company has a 50 day simple moving average of $0.80 and a two-hundred day simple moving average of $1.05.

About Magic Empire Global

Magic Empire Global Limited (NASDAQ: MEGL) is a Hong Kong-based financial services company that provides corporate finance and related advisory services. Through its operating subsidiary, the company works with businesses seeking to raise capital, access public markets, or address other strategic and financial requirements. Its services include corporate finance advisory, underwriting and placement services, securities brokerage, and other investment banking-related activities. The company has also provided advice related to initial public offerings, mergers and acquisitions, corporate restructuring, and regulatory compliance.