MGIC Ticking Higher on Increased Volume

Shares of Magic Software Enterprises (MGIC) are higher on the session by nearly 7.1 percent, currently trading at $7.17. The security continues ticking higher on massive volume as it lifts higher intraday, elevating modestly here above its recent momo consolidation highs of $7.19.

MGIC currently trades at a trailing P/E of 23.75, price book of 3.34 and an EV/Revenue of 2.43. More than 1.9 million MGIC shares have already traded hands compared to a daily average of around 322,000 shares. All of the action following today’s high volume, which is  approx. 6x the ticker’s 13- week daily average volume, looks to be entirely consolidative in nature.

Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!

About Ron Haruni 1067 Articles
Ron Haruni is the Co-Founder & Editor in Chief of Wall Street Pit.

Be the first to comment

Leave a Reply

Your email address will not be published.


*

This site uses Akismet to reduce spam. Learn how your comment data is processed.