MGN (NASDAQ:MGN) Stock Short Interest Report for October

MGN (NASDAQ:MGN) saw a significant growth in short interest during the month of October. As of October 30th, there was short interest totaling 84,064 shares, a growth of 468.7% from the October 15th total of 14,781 shares. Based on an average daily volume of 174,364 shares, the short-interest ratio is presently 0.5 days. Currently, 7.9% of the company’s stock are short sold.

MGN Stock Performance

Shares of MGN traded down $0.04 during midday trading on Wednesday, reaching $3.37. The stock had a trading volume of 3,310 shares, compared to its average volume of 592,773. The firm has a 50 day simple moving average of $14.54 and a 200-day simple moving average of $10,935.16. MGN has a one year low of $1.67 and a one year high of $155.40.

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

Analyst Ratings Changes

A number of analysts have recently commented on MGN shares. Weiss Ratings raised shares of MGN from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, October 2nd. Wall Street Zen downgraded shares of MGN from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 4th. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock has a consensus 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.