MGN (NASDAQ:MGN) Sees Significant Drop in Short Interest

MGN (NASDAQ:MGN) saw a large drop in short interest during the month of April. As of April 30th, there was short interest totaling 673,609 shares, a drop of 59.8% from the April 15th total of 1,674,622 shares. Based on an average daily volume of 1,180,157 shares, the short-interest ratio is currently 0.6 days. Currently, 1.8% of the shares of the company are short sold.

MGN Stock Down 0.3%

Shares of NASDAQ:MGN traded down $0.00 during midday trading on Friday, hitting $0.16. The stock had a trading volume of 653,359 shares, compared to its average volume of 1,199,401. MGN has a 1 year low of $0.13 and a 1 year high of $8.63.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings began coverage on shares of MGN in a research report on Tuesday, March 17th. They set a “sell (e+)” rating on the stock. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus 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.