Meritage Hospitality Group (OTCMKTS:MHGU) Share Price Passes Below 50 Day Moving Average – Here’s What Happened

Meritage Hospitality Group Inc. (OTCMKTS:MHGU) shares crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $2.58 and traded as low as $2.00. Meritage Hospitality Group shares last traded at $2.3135, with a volume of 879 shares changing hands.

Meritage Hospitality Group Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.07 and a current ratio of 0.09. The business’s fifty day simple moving average is $2.58 and its 200-day simple moving average is $3.66. The firm has a market capitalization of $15.59 million, a PE ratio of -0.45 and a beta of 0.02.

Meritage Hospitality Group (OTCMKTS:MHGU) last announced its quarterly earnings data on Monday, March 30th. The company reported ($2.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($2.76). Meritage Hospitality Group had a negative net margin of 5.14% and a negative return on equity of 23.95%. The company had revenue of $144.99 million for the quarter, compared to analysts’ expectations of $177.20 million.

Meritage Hospitality Group Company Profile

Meritage Hospitality Group (OTCMKTS: MHGU) is a diversified hospitality company that invests in, develops and manages limited- and select-service hotels across the United States. The company’s core activities include identifying and acquiring strategic hotel assets, securing franchise affiliations with prominent lodging brands and overseeing day-to-day property operations through its in-house management platform. Meritage’s vertically integrated model seeks to capture value at each stage of the hotel lifecycle, from site selection and development to ongoing asset management and performance optimization.

Meritage partners with leading national and global hotel franchisors, typically operating under brands within the Marriott, Choice and IHG portfolios.