Nano Magic (OTCMKTS:NMGX) Stock Price Down 2.6% – Here’s Why

Shares of Nano Magic Inc. (OTCMKTS:NMGX) dropped 2.6% during mid-day trading on Monday . The company traded as low as $0.70 and last traded at $0.75. Approximately 305 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 4,234 shares. The stock had previously closed at $0.77.

Nano Magic Stock Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 0.54 and a quick ratio of 0.11. The stock’s 50 day moving average is $0.77 and its 200-day moving average is $0.81. The company has a market capitalization of $10.51 million, a P/E ratio of -3.00 and a beta of 37.04.

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

Nano Magic Company Profile

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.