MGN (NASDAQ:MGN) Sees Large Decrease in Short Interest

MGN (NASDAQ:MGN) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 14,781 shares, a decline of 55.2% from the September 30th total of 32,996 shares. Based on an average daily volume of 152,141 shares, the short-interest ratio is presently 0.1 days. Currently, 1.4% of the shares of the company are sold short.

MGN Stock Up 3.0%

Shares of MGN stock traded up $0.12 on Friday, reaching $4.12. The company’s stock had a trading volume of 39,415 shares, compared to its average volume of 176,877. The stock has a 50-day moving average price of $32.20 and a 200-day moving average price of $11,428.84. MGN has a 52-week low of $1.67 and a 52-week high of $155.40.

MGN (NASDAQ:MGN) last released its quarterly earnings results on Friday, August 14th. The company reported ($21.08) earnings per share (EPS) for the quarter. The company had revenue of $1.56 million for the quarter.

Wall Street Analyst Weigh In

MGN has been the topic of several analyst reports. Weiss Ratings upgraded shares of MGN from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, October 2nd. Wall Street Zen downgraded shares of MGN from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 4th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, MGN presently has an average rating of “Sell”.

MGN Company Profile

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.