Magnite Inc. (NASDAQ:MGNI) currently has a daily average trading volume of 1.46M but it saw 1343770 shares traded on Wednesday. With a market cap of 1.64B USD, stock’s current market price of $11.81 came rising about 1.55 while comparing to the previous closing price of $11.63. In past 52 weeks, the stock remained buoying in the range of price level as high as $14.20 and as low as $5.59. In the recent trading on the day, stock has struck highest price mark of $11.88 while lowest mark touched by it was $11.27.
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Taking a look at 20-day trading activity of Magnite Inc. (MGNI) gives us an average price of $10.29, while its current price level is -16.86% below from 52-week high level whereas it is 111.46% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $9.59 while that of 200 days or SMA-200 reads an average of $9.48. A closer look into the stock’s movement over the week reveals that its volatility is standing at 7.13% during that period while stretching the period over a month that decreases to 6.23%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 61.08 which implies that the stock is in neutral territory.
Data by FactSet Research shows that 12 analysts have issued their ratings for the stock. 0 of them are in opinions that stock is a Sell, while 1 are advising it as an Overweight. 10 analysts suggested the investors to Buy the stock while 1 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Buy for the stock and that issued by Wall Street to investors is Moderate Buy.
Over the week, MGNI’s stock price is moving 8.45% up while it is 36.53% when we observe its performance for the past one month. Year-to-date it is 11.52% up and over the past year, the stock is showing an upside performance of 10.89%.
The latest quarterly earnings report issued by the company was for quarter ended 3/30/2023, when its quarterly earnings per share (EPS) of $0.04 beat the consensus estimate of -$0.04 for the same. For MGNI, analysts are forecasting an EPS-growth rate of -12.50% for current year and estimate for EPS growth in next year is 51.80%. In next quarter, company is expected to be making quarterly sales of $138.31 million as analysts are expecting the sales for current fiscal year at $558.22 million and seeing the company making $627.03 million in sales next year. Moreover, analysts are in estimates of $134.3 million for current-quarter revenue.
Currently, Magnite Inc.’s total number of outstanding shares is 134.67M with 2.14% of that held by the insiders while 70.51% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at -7.10% and return on equity (ROE) at -23.60%. It has a 13.89 of forward P/E ratio. Stock’s beta reads 2.11. Stock has a price to book (P/B) ratio of 2.25 while price to sale or P/S ratio amounts to 2.79. Its return on asset (ROA) is -7.20% on average.
In the most recent quarter, Vanguard Small Cap Index Fund came cutting its stake by -0.02% in the company and now holds 3.35 million or 2.48% of the company’s stake having worth of about 31.5 million.
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