The stock of Mayville Engineering Company, Inc. (NYSE:MEC) has been Initiated to Outperform by William Blair in its latest research note that was published on June 03. UBS, analysts launched coverage of MEC stock with a Neutral rating, according to their flash note to investors on June 03
Mayville’s stock is covered by 5 analysts, with 4 of them rating the stock as Buy. It has been deemed to have strong buy by none of the analysts, 1 of them have rated it as a Hold while none of them rated it as sell. The situation was different a month ago when the stock was rated as a Buy by only none analysts. none of them rated it as strong buy with none of them recommended investors to Hold on to the stock. Meanwhile, none analyst(s) rated it as a sell. The above data shows that MEC has an average analyst rating of 1.40.
Mayville Engineering Company, Inc., which has current market capitalization of above $248 Million, published its last quarter earnings on June 30, 2019.
MEC surged by $0.70 during the normal trading session on Tuesday and reaching a high of $12.28 during the day while it closed the day at $12.14. The Mayville stock had a low trading volume of 0.12 million shares on that day, which is low compared to the average daily volume of 100.71M shares. MEC has also lost 6.47% of its value over the past 7 days. However, the stock has declined by 27.26% in the 3 months of the year. Over the past six months meanwhile, it has lost 0.00% while it has lost 26.29% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -30.23% from its 3 months high price. However, taking another look at MEC will indicate that it is trading +6.96% away from its 90-day low. Looking at the bigger picture, the Mayville Engineering Company, Inc. stock has dropped by -30.23% from its 52-week high while it has surged by +6.96% from its 52-week low price.
Mayville has around 1 Million cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $89 Billion. The Mayville stock is bringing in revenue of over 12 months, which is roughly 125 Billion. Despite all that, Mayville Engineering Company, Inc. is seeing things progressing very much as their y-o-y quarterly revenue surged by 65.22%.
Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 14.11%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 18.52%. Over the past 20 days, Mayville’s Stochastic %K stood at 9.03% while its Stochastic %D was revealed to be 5.77%.