Morgans Hotel Group Co. (MHGC) Hits New 52-week Low During January 15 Session

Equities Staff |

Morgans Hotel Group Co. (MHGC) established a new 52-week low yesterday, and could be a company to watch at the open. After opening at $2.04, Morgans Hotel Group Co. dropped to $1.83 for a new 52-week low. By the closing bell, the company's stock was at $1.92 a share for a loss of 8.57%.

Falling to a new 52-week low is never fun for company's shareholder, but, depending on who you ask, it can be either a buy or a sell signal. Someone bearish on the stock might see it reaching its lowest price in a year as a sign of growing downward momentum and make sure they sell their shares. Bulls, though, are more likely to see a new 52-week low as the stock hitting its low point and anticipate a bounce in the share price.

However one plays it, it's often a critical moment for any stock and should be noted by investors.

Morgans Hotel Group Co. saw 149,502 shares of its stock trade hands, that's out of 34.71 million shares outstand. The stock has an average daily volume of 131,035 shares. After hitting a new 52-week low, Morgans Hotel Group Co. enters the new trading day with a market cap of 66.65 million, a 50-day SMA of $3.21 and a 200-day SMA of $5.04

For a complete fundamental analysis analysis of Morgans Hotel Group Co., check out Equities.com’s Stock Valuation Analysis report for MHGC. To see the latest independent stock recommendations from Equities.com’s analysts, visit our Research section.

Morgans Hotel Group Co, operates, owns, acquires, develops and redevelops boutique hotels, in gateway cities and select resort markets in the United States, Europe and other international locations.

Morgans Hotel Group Co. has 2,600 employees, is led by CEO Richard Szymanski, and makes its home in New York, NY.

Morgans Hotel Group Co. is also a component of the Russell 2000 Index, which is generally viewed as the most reliable indicator of the health of the broader small-cap market. Using a rules-based methodology, it creates a simple, unbiased view of how America's stable of smaller publicly traded companies are performing in the stock markets.

The index consists of the 2,000 smallest companies of the 3,000 largest publicly-traded companies in the country as judged by market cap. It's constructed by Russell Investments, which also builds and maintains the Russell 3000 (an index consisting of all 3,000 biggest companies by market cap) and the large-cap Russell 1000 (which has the 1,000 largest companies from the Russell 3000).

For more news on the financial markets, go to Equities.com. Also, learn more about our independent proprietary equity research reports and our robust do-it-yourself Stock Valuation Analysis reports in our Research section.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Comments

Emerging Growth

VOIP PAL.COM INC

VOIP-PAL COM Inc is a development stage company. The Company is engaged in broadband Voice-over-Internet Protocol ("VoIP") market with the ownership and continuing development of a portfolio of VoIP Patents.

Private Markets

Spotify

Spotify is a online music service offering providing digital content from a range of record labels and artists. Users can browse through the interface by artist, album, genre, playlist, record…

Ozobot by Evollve Inc

Ozobot is a world leader in compact super intelligent robots that entertain and educate through fun interactive gaming.