MGN (NASDAQ:MGN) Short Interest Update

MGN (NASDAQ:MGN) was the target of a large drop in short interest in June. As of June 30th, there was short interest totaling 175,377 shares, a drop of 69.9% from the June 15th total of 582,395 shares. Approximately 0.6% of the company’s stock are short sold. Based on an average trading volume of 55,906,654 shares, the days-to-cover ratio is currently 0.0 days.

MGN Stock Performance

Shares of MGN traded down $0.00 during midday trading on Tuesday, hitting $0.11. 807,912 shares of the company’s stock traded hands, compared to its average volume of 11,277,863. MGN has a 1 year low of $0.10 and a 1 year high of $8.63. The company’s fifty day moving average is $0.15. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.01.

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

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded MGN from a “sell (e)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, MGN 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.