MGN (NASDAQ:MGN) Short Interest Down 59.8% in April

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

MGN Stock Down 0.3%

MGN stock traded down $0.00 during trading hours on Friday, reaching $0.16. The company had a trading volume of 653,359 shares, compared to its average volume of 1,199,401. MGN has a 12-month low of $0.13 and a 12-month high of $8.63.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings assumed coverage on MGN in a research note on Tuesday, March 17th. They issued a “sell (e+)” rating on the stock. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, MGN currently has an average rating of “Sell”.

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.