Company Update (NYSEMKT:MGT): MGT Capital Investments Inc. Receives Subpoena From Securities and Exchange Commission
MGT Capital Investments Inc. (NYSEMKT:MGT) announced that on September 15, 2016, it received a subpoena from the Securities and Exchange Commission requesting certain information from the Company. MGT has no indication or reason to believe that the Company is or will be the subject of any enforcement proceedings. The Company is fully cooperating to comply with the SEC’s request. (Original Source)
Shares of MGT Capital are currently at $2.95, down $0.31 or -9.51%. MGT has a 1-year high of $5.58 and a 1-year low of $0.15. The stock’s 50-day moving average is $3.33 and its 200-day moving average is $2.16.
On the ratings front, Ascendiant Capital analyst Edward Woo initiated coverage with a Buy rating on MGT and a price target of $6, in a report issued on August 15. The current price target represents a potential upside of 84.0% from where the stock is currently trading. According to TipRanks.com, Woo has a yearly average return of 14.5%, a 62.5% success rate, and is ranked #375 out of 4163 analysts.
MGT Capital Investments, Inc. engages in the business of acquiring, developing and monetizing assets in the online and mobile gaming space, as well as the casino industry. It operates through two reportable segments: Gaming and Intellectual Property.