In Friday’s Wall Street session, MGP Ingredients, Inc (NASDAQ:MGPI) shares traded at $33.15, up 2.41% from the previous session.
MGPI stock price is now -13.78% away from the 50-day moving average and -49.26% away from the 200-day moving average. The market capitalization of the company currently stands at $727.64M.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target reduced from $66 to $50, TD Cowen Downgraded its rating from Buy to Hold for MGP Ingredients, Inc (NASDAQ: MGPI). On October 18, 2024, Lake Street Downgraded its previous ‘Buy’ rating to ‘Hold’ on the stock reducing its target price from $135 to quote $75, while ‘Wedbush’ rates the stock as ‘Outperform’
In other news, Seaberg Karen, Director bought 11,843 shares of the company’s stock on Dec 11 ’24. The stock was bought for $540,041 at an average price of $45.60. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 12 ’24, Director Seaberg Karen bought 5,264 shares of the business’s stock. A total of $240,039 was incurred on buying the stock at an average price of $45.60. A total of 30.56% of the company’s stock is owned by insiders.
During the past 12 months, MGP Ingredients, Inc has had a low of $31.81 and a high of $92.90. As of last week, the company has a debt-to-equity ratio of 0.33, a current ratio of 6.46, and a quick ratio of 1.94. The fifty day moving average price for MGPI is $38.4474 and a two-hundred day moving average price translates $65.3282 for the stock.
The latest earnings results from MGP Ingredients, Inc (NASDAQ: MGPI) was released for 2024-09-30. The net profit margin was 14.44% and return on equity was 12.29% for MGPI. The company reported revenue of $161.46 million for the quarter, compared to $211.62 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -23.7 percent.
