Morgans Hotel Group Co. (MHGC) is Trading Lower on Unusual Volume for January 12

Equities Staff |

Morgans Hotel Group Co. (MHGC) experienced unusually high volume on Jan. 12, as the stock lost 6.34% to a closing price of $2.51. The stock saw 210,625 shares trade hands over the course of the day on 1,077 trades. Given that the stock’s average daily volume over the last month has been 126,388 shares a day, this represents a pretty substantial spike over the norm.

Morgans Hotel Group Co. has a P/B ratio of -0.26. The stock has traded between $8.00 and $2.65 over the last 52-weeks, its 50-day SMA is now $3.28, and its 200-day SMA $5.12.

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.

Headquartered in New York, NY, Morgans Hotel Group Co. has 2,600 employees and is currently under the leadership of CEO Richard Szymanski.

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.

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

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