Magic Empire Global (NASDAQ:MEGL) Shares Down 1.8% – Here’s What Happened

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued 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 Price Performance

The firm’s fifty day simple moving average is $1.18 and its 200 day simple moving average is $1.16.

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.