Meritage Hospitality Group (OTCMKTS:MHGU) Shares Pass Below 50 Day Moving Average – Here’s Why

Meritage Hospitality Group Inc. (OTCMKTS:MHGU) shares passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $2.19 and traded as low as $1.50. Meritage Hospitality Group shares last traded at $1.6712, with a volume of 41,629 shares trading hands.

Meritage Hospitality Group Stock Performance

The company’s fifty day simple moving average is $2.14 and its two-hundred day simple moving average is $2.28. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.10 and a current ratio of 0.11. The stock has a market capitalization of $1.37 million, a P/E ratio of -0.03 and a beta of -0.22.

Meritage Hospitality Group (OTCMKTS:MHGU) last posted its earnings results on Wednesday, August 12th. The company reported ($2.09) EPS for the quarter. The firm had revenue of $140.99 million during the quarter. Meritage Hospitality Group had a negative net margin of 8.89% and a negative return on equity of 44.87%.

Meritage Hospitality Group Company Profile

Meritage Hospitality Group, Inc is a U.S.-based restaurant operator and real estate company headquartered in Grand Rapids, Michigan. The company’s principal business is operating quick-service restaurants, with a substantial portfolio of Wendy’s restaurants serving customers across multiple states.

In addition to restaurant operations, Meritage is involved in the development, ownership and leasing of restaurant-related real estate. Its activities include selecting and developing restaurant sites, managing restaurant properties and supporting the operation of its franchise locations.

Meritage Hospitality Group was established in 1981 and has expanded primarily through the acquisition, development and operation of franchised restaurants.