MGN (NASDAQ:MGN) Short Interest Update

MGN (NASDAQ:MGN) saw a significant growth in short interest in July. As of July 31st, there was short interest totaling 1,346,789 shares, a growth of 776.8% from the July 15th total of 153,599 shares. Based on an average trading volume of 8,532,838 shares, the short-interest ratio is presently 0.2 days. Approximately 3.6% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised MGN from a “sell (e)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

MGN Trading Down 14.0%

Shares of MGN stock traded down $0.02 on Tuesday, hitting $0.11. The company had a trading volume of 1,309,357 shares, compared to its average volume of 59,116,888. The business has a 50-day simple moving average of $0.13. MGN has a 52 week low of $0.06 and a 52 week high of $8.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.05 and a quick ratio of 2.05.

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

About MGN

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.