Millennium Group International Holdings Limited (NASDAQ:MGIH) Sees Significant Drop in Short Interest

Millennium Group International Holdings Limited (NASDAQ:MGIH) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totaling 48,556 shares, a drop of 47.6% from the August 15th total of 92,685 shares. Based on an average daily trading volume, of 31,754 shares, the short-interest ratio is currently 1.5 days. Currently, 0.4% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Millennium Group International in a report on Friday, August 7th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Millennium Group International currently has a consensus rating of “Sell”.

Millennium Group International Stock Performance

Shares of MGIH stock remained flat at $1.53 during mid-day trading on Tuesday. The stock had a trading volume of 3,907 shares, compared to its average volume of 19,615. The company has a current ratio of 1.61, a quick ratio of 1.44 and a debt-to-equity ratio of 0.02. The business has a fifty day moving average price of $1.56 and a two-hundred day moving average price of $1.50. Millennium Group International has a 12-month low of $1.11 and a 12-month high of $3.12.

Millennium Group International (NASDAQ:MGIH) last released its quarterly earnings data on Thursday, June 25th. The company reported ($0.15) earnings per share (EPS) for the quarter. The firm had revenue of $5.43 million during the quarter.

Millennium Group International Company Profile

Millennium Group International Holdings Limited, an investment holding company, provides paper-based packaging solutions in Mainland China, Hong Kong, Vietnam, rest of Southeast Asian countries, Australia, the United States, and internationally. The company offers paper packaging products, including cardboard boxes, gift boxes, displays, corrugated outer cartons, manuals, and user guides to footwear products, sportswear, cookware and kitchenware, smartphones, food and beverage, paper and packaging, non-food-and-beverage-consumables, logistics, e-commerce, and home electronics industries; and packaging solutions to various luxury products industries.