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

Magic Empire Global Limited (NASDAQ:MEGL) was the target of a large growth in short interest in the month of 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 trading volume, of 3,928,025 shares, the short-interest ratio is currently 0.1 days. Currently, 24.8% of the shares of the company are sold short.

Magic Empire Global Price Performance

NASDAQ MEGL traded down $0.00 during trading hours on Thursday, hitting $0.12. The company had a trading volume of 544,092 shares, compared to its average volume of 2,797,634. Magic Empire Global has a fifty-two week low of $0.10 and a fifty-two week high of $1.54. The business has a fifty day simple moving average of $0.78 and a 200-day simple moving average of $1.05.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Magic Empire Global in a report on Tuesday, September 22nd. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, Magic Empire Global presently has an average rating of “Sell”.

Magic Empire Global Company Profile

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.