MGO Global Inc (NASDAQ: MGOL) Stock: A Value Hunter’s Investment?

The trading price of MGO Global Inc (NASDAQ:MGOL) closed lower on Tuesday, April 02, closing at $0.32, -21.36% lower than its previous close.

In examining the 52-week price action we see that the stock hit a 52-week high of $3.25 and a 52-week low of $0.30. Over the past month, the stock has lost -17.62% in value.

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MGO Global Inc, whose market valuation is $5.02 million at the time of this writing. Investors’ optimism about the company’s current quarter earnings report is understandable.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of MGO Global Inc No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest MGOL has a 100% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Sell, while an average of long term indicators suggests that the stock is currently 100% Sell.

A quick review shows that MGOL’s price is currently -17.23% off the SMA20 and -20.57% off the SMA50. The RSI metric on the 14-day chart is currently showing 38.65, and weekly volatility stands at 17.79%. When measured over the past 30 days, the indicator reaches 11.35%. MGO Global Inc (NASDAQ:MGOL)’s beta value is currently sitting at 5.29, while the Average True Range indicator is currently displaying 0.05.

To see how MGO Global Inc stock has been performing in comparison to its peers in the industry, here are the numbers: MGOL stock’s performance was -21.36% in the latest trading, and -76.21% in the past year.

An evaluation of the daily trading volume of MGO Global Inc (NASDAQ:MGOL) indicates that the 3-month average is 541.66K. However, this figure has increased over the past 10 days to an average of 0.47 million.

Currently, records show that 14.27 million of the company’s shares remain outstanding. The insiders hold 58.47% of outstanding shares, whereas institutions hold 0.95%. The stats also highlight that short interest as of Mar 15, 2024, stood at 0.21 million shares, resulting in a short ratio of 0.44 at that time. From this, we can conclude that short interest is 1.33% of the company’s total outstanding shares. It is noteworthy that short shares in March were up slightly from the previous month’s figure, which was 59300.0. However, since the stock’s price has seen -25.86% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.