MGN (NASDAQ:MGN) Shares to Reverse Split on Friday, August 21st

MGN (NASDAQ:MGN) shares are going to reverse split on Friday, August 21st. The 1-40 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, August 20th.

MGN Stock Down 6.4%

MGN opened at $0.10 on Thursday. MGN has a twelve month low of $0.06 and a twelve month high of $8.63. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.01. The company’s fifty day moving average price is $0.13.

MGN (NASDAQ:MGN) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.01) earnings per share (EPS) for the quarter. The company had revenue of $8.68 million for the quarter.

Key MGN News

Here are the key news stories impacting MGN this week:

• Neutral Sentiment: Megan Holdings has called an extraordinary general meeting for August 21 to seek approval for a share consolidation and broader capital restructuring. A reverse split could help the company address listing or capitalization issues, but any associated issuance or restructuring could dilute existing shareholders. Megan Holdings Calls August 21 EGM to Approve Share Consolidation and Capital Overhaul
• Negative Sentiment: Levi & Korsinsky said a class action complaint covers investors who bought MGN from September 26, 2025, through March 25, 2026. The complaint alleges that the stock rose more than 400% in a fraudulent pump-and-dump scheme before collapsing 93.4% in one trading day; these allegations have not been proven in court. MGN Shareholder Alert: Megan Holdings Limited Securities Class Action Lawsuit
• Negative Sentiment: Bernstein Liebhard, Bragar Eagel & Squire, Pomerantz, Bronstein Gewirtz & Grossman, Gross Law Firm and Faruqi & Faruqi separately reminded investors about the securities litigation and September 8 deadline. The cluster of nearly identical legal notices keeps alleged securities-law violations in focus and may weigh on investor confidence. Bernstein Liebhard MGN Class Action Deadline
• Negative Sentiment: Reported short interest rose sharply in late July to 1.35 million shares, or about 3.6% of shares outstanding, although a subsequent report showed zero shares short, indicating inconsistent or unreliable short-interest data. The conflicting figures reinforce the stock’s limited liquidity and unusual trading conditions.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded MGN from a “sell (e)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

About MGN

Megan Holdings is a company principally engaged in the development, construction and maintenance of aquaculture farms and related works. Megan Holdings is based in Malaysia.