MGN (NASDAQ:MGN) Stock Short Interest Declines 55.2%

MGN (NASDAQ:MGN) saw a large decline in short interest in October. As of October 15th, there was short interest totaling 14,781 shares, a decline of 55.2% from the September 30th total of 32,996 shares. Approximately 1.4% of the shares of the stock are short sold. Based on an average trading volume of 152,141 shares, the days-to-cover ratio is presently 0.1 days.

Analysts Set New Price Targets

MGN has been the topic of a number of research reports. Weiss Ratings raised shares of MGN from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, October 2nd. Wall Street Zen cut MGN from a “sell” rating to a “strong sell” rating in a research note on Sunday, October 4th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

MGN Stock Performance

NASDAQ:MGN traded up $0.12 during trading hours on Friday, hitting $4.12. The company’s stock had a trading volume of 39,415 shares, compared to its average volume of 176,877. The stock has a fifty day moving average of $32.20 and a 200-day moving average of $11,428.84. MGN has a 52-week low of $1.67 and a 52-week high of $155.40.

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