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

Magic Empire Global Limited (NASDAQ:MEGL) was the recipient of a large 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 days-to-cover ratio is presently 0.1 days. Currently, 24.8% of the shares of the stock are sold short.

Magic Empire Global Price Performance

MEGL stock opened at $0.11 on Wednesday. Magic Empire Global has a one year low of $0.10 and a one year high of $1.54. The company’s 50 day moving average price is $0.80 and its two-hundred day moving average price is $1.05.

Wall Street Analyst Weigh In

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

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.