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

MGN (NASDAQ:MGN) was the target of a significant growth in short interest in 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 trading volume of 174,364 shares, the short-interest ratio is currently 0.5 days. Approximately 7.9% of the company’s stock are short sold.

MGN Stock Performance

MGN stock traded up $0.26 during midday trading on Friday, hitting $3.65. The company’s stock had a trading volume of 89,369 shares, compared to its average volume of 588,241. The firm has a 50-day simple moving average of $8.68 and a 200-day simple moving average of $10,801.85. MGN has a 52-week low of $1.67 and a 52-week high of $155.40.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MGN shares. Weiss Ratings raised shares of MGN from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, October 2nd. Wall Street Zen lowered shares of MGN from a “sell” rating to a “strong sell” rating in a report on Sunday, October 4th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

MGN Company Profile

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.