Magyar Bancorp Inc (NASDAQ: MGYR). Extremely significant positive changes in investment behavior have recently occurred: its shorter term price trend turned up, the stock’s recent price rise disrupted its longer term downtrend, positive upside/downside volume developed, and the stock rose on very heavy volume.
In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
With future capital returns forecasted to be in line with the cost of capital, MGYR is expected to continue to be Value Creation neutral.
Magyar Bancorp has a current Value Trend Rating of C (Neutral). This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. Magyar Bancorp has a neutral Power Rating of 54 and a slightly positive Appreciation Score of 61, leading to the Neutral Value Trend Rating.
Recent Price Action
On 12/15/23, Magyar Bancorp Inc (NASDAQ: MGYR) stock enjoyed a large increase of 4.9%, closing at $11.28. Moreover, exceptionally high trading volume at 943% of normal accompanied the advance. The stock has performed in line with the market over the last nine months and has risen 12.8% during the last week.
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