Magic Empire Global Limited (NASDAQ:MEGL) Shares Shorted: Short Interest Up 660.9% in October

Magic Empire Global Limited (NASDAQ:MEGL) saw a significant increase in short interest during the month of October. As of October 30th, there was short interest totaling 372,293 shares, an increase 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. Approximately 24.8% of the shares of the stock are short sold.

Magic Empire Global Stock Down 2.6%

Shares of NASDAQ:MEGL opened at $0.12 on Friday. Magic Empire Global has a 12 month low of $0.10 and a 12 month high of $1.54. The company has a 50-day moving average price of $0.75 and a 200 day moving average price of $1.04.

Analyst Upgrades and Downgrades

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