Alta Global Group Ltd. (MMA): Are Investors Missing The Big Picture?

Alta Global Group Ltd. (AMEX:MMA) does about 15.99K shares in volume on a normal day but saw 917361 shares change hands in the recent trading day. The company now has a market cap of 22.71M USD. Its current market price is $2.21, marking a decrease of -3.45% compared to the previous close of $2.29. The 52 week high reached by this stock is $5.25 whilst the lowest price level in 52 weeks is $1.41.

Alta Global Group Ltd. (MMA) has a 20-day trading average at $1.76 and the current price is -57.89% off the 52-week high compared with 57.34% distance from its 52-week low. The 50-day simple moving average of the closing price is $2.54. If we look at the stock’s price movements over the week, volatility stands at 34.51%, which decreases to 20.50% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 54.55 to suggest the stock is neutral.

The consensus objective for the share price is $6.96, suggesting that the stock has a potential upside of 68.25% over the period.

FactSet Research has provided data showing that 1 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 1 analysts have rated it as a buy and 0 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Strong Buy the stock.

The current price level is 25.64%, -12.99%, and -25.96% away from its SMA20, SMA50, and SMA200 respectively, with the MMA price moving above the 50-day SMA on current market day. Alta Global Group Ltd. (MMA) stock is up 6.30% over the week and 15.71% over the past month. Its price is -47.11% year-to-date.

To reach the target analysts have set, the stock logically needs to grow 68.25 percent from here.