Nano Magic (OTCMKTS:NMGX) Shares Down 7.5% – Should You Sell?

Nano Magic Inc. (OTCMKTS:NMGX) dropped 7.5% during trading on Tuesday . The company traded as low as $0.51 and last traded at $0.51. Approximately 112 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 4,060 shares. The stock had previously closed at $0.55.

Nano Magic Stock Performance

The stock has a 50 day moving average of $0.74 and a 200 day moving average of $0.83. The company has a quick ratio of 0.11, a current ratio of 0.54 and a debt-to-equity ratio of 0.24. The firm has a market cap of $8.27 million, a price-to-earnings ratio of -2.36 and a beta of 37.33.

Nano Magic (OTCMKTS:NMGX) last posted its quarterly earnings results on Monday, August 19th. The company reported ($0.06) earnings per share (EPS) for the quarter. The firm had revenue of $0.62 million for the quarter. Nano Magic had a negative return on equity of 438.98% and a negative net margin of 121.38%.

About Nano Magic

Nano Magic Inc develops, commercializes, and markets consumer and industrial products using nanotechnology in the United States and Canada. The company offers liquid and towelette formulations for cleaning and protecting clear surfaces, such as electronic touchscreens, windshields, windows, mirrors, shower doors, eyeglasses, and sunglass lenses; liquid formulation packaged for retail and industrial sale for cleaning surfaces; and anti-fogging liquid and towelette formulations for sporting product applications and goggles.