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

MGN (NASDAQ:MGN) was the target 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 trading volume, of 152,141 shares, the short-interest ratio is currently 0.1 days. Currently, 1.4% of the shares of the company are sold short.

Analyst Ratings Changes

MGN has been the subject of a number of recent research reports. Wall Street Zen downgraded MGN from a “sell” rating to a “strong sell” rating in a research note on Sunday, October 4th. Weiss Ratings upgraded shares of MGN from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, October 2nd. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, MGN presently has a consensus rating of “Sell”.

MGN Stock Up 3.0%

MGN stock traded up $0.12 during mid-day trading on Friday, hitting $4.12. The company’s stock had a trading volume of 39,391 shares, compared to its average volume of 614,281. MGN has a 52-week low of $1.67 and a 52-week high of $155.40. The firm’s 50 day moving average is $138.68 and its 200 day moving average is $11,503.03.

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

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.