Magnitude International Ltd’s Lock-Up Period To End on February 9th (NASDAQ:MAGH)

Magnitude International’s (NASDAQ:MAGH) lock-up period is set to expire on Monday, February 9th. Magnitude International had issued 2,200,000 shares in its IPO on August 12th. The total size of the offering was $8,800,000 based on an initial share price of $4.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e-)” rating on shares of Magnitude International in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Magnitude International currently has an average rating of “Sell”.

Magnitude International Stock Performance

Shares of MAGH stock opened at $6.76 on Friday. Magnitude International has a 52-week low of $0.99 and a 52-week high of $6.94. The stock has a fifty day simple moving average of $6.67.

Magnitude International Company Profile

Our mission is to become one of the leading integrated one-stop electrical installation services provider in Singapore. Our emphasis is to add value to all stakeholders by ensuring that all buildings which we have serviced are safe, functional and energy efficient. We have over 12 years of experience in providing electrical installation services to customers in both the private and public sectors in Singapore. During our operating history, we have been principally engaged in the provision of (i) electrical installation for private and public housing (including condominium, residential flats and bungalows), commercial and mixed-use developments as well as other types of public facilities (such as parks and bus interchanges), including, among others, the installation of generators, transformers, high and low tension systems, lightning protection systems, underground infrastructures, telecommunication systems, security systems, solar panel systems, capacitor banks, fire alarms and electric vehicle chargers; and (ii) various types of A&A works, such as rewiring and replacement/removal/ shifting/upgrading/addition of sub main cables, low and high tension switchgears, distribution boards, control panels, emergency switchboards, standby emergency generators and lightnings, for residential and commercial buildings as well as a wide range of other properties, including hotels, shopping malls, hospitals, government facilities, restaurants and mass rapid transit stations in a range of greenfield and brownfield electrical installation projects including .