Magic Empire Global (NASDAQ:MEGL) Trading Up 1.3% – Should You Buy?

Magic Empire Global Limited (NASDAQ:MEGL) shot up 1.3% during trading on Tuesday . The company traded as high as $1.21 and last traded at $1.20. 3,399 shares were traded during trading, a decline of 81% from the average session volume of 17,777 shares. The stock had previously closed at $1.1850.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Magic Empire Global in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Magic Empire Global presently has a consensus rating of “Sell”.

Magic Empire Global Stock Down 0.4%

The firm’s 50-day moving average is $1.22 and its two-hundred day moving average is $1.13.

Institutional Investors Weigh In On Magic Empire Global

An institutional investor recently bought a new position in Magic Empire Global stock. Virtu Financial LLC purchased a new stake in Magic Empire Global Limited (NASDAQ:MEGL) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 21,731 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned about 0.53% of Magic Empire Global as of its most recent SEC filing. 0.51% of the stock is currently owned by hedge funds and other 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.