MGN (NASDAQ:MGN – Get Free Report) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 669,792 shares, a growth of 182.0% from the August 15th total of 237,476 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average daily volume of 14,563,290 shares, the days-to-cover ratio is presently 0.0 days.
Analyst Ratings Changes
Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of MGN in a report on Thursday, August 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.
Check Out Our Latest Research Report on MGN
MGN Stock Down 12.9%
Shares of MGN are going to reverse split on Thursday, September 17th. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, September 16th.
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.
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