MGN (NASDAQ:MGN) Stock Short Interest Drops 95.8%

MGN (NASDAQ:MGN) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 32,996 shares, a decline of 95.8% from the September 15th total of 778,085 shares. Based on an average daily volume of 1,256,707 shares, the short-interest ratio is presently 0.0 days. Currently, 3.7% of the shares of the company are sold short.

MGN Stock Up 8.3%

Shares of MGN stock traded up $0.28 on Friday, reaching $3.67. The company’s stock had a trading volume of 171,004 shares, compared to its average volume of 757,228. The stock has a 50-day moving average price of $1,573.33 and a 200-day moving average price of $9,585.93. MGN has a 52-week low of $1.67 and a 52-week high of $155.40.

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

Analyst Ratings Changes

Several research firms recently commented on MGN. Wall Street Zen lowered shares of MGN from a “sell” rating to a “strong sell” rating in a research report 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 investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock 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.