MGN (NASDAQ:MGN) Sees Significant Decline in Short Interest

MGN (NASDAQ:MGN – Get Free Report) was the recipient of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 175,377 shares, a decline of 69.9% from the June 15th total of 582,395 shares. Based on an average daily volume of 55,906,654 shares, the short-interest ratio is currently 0.0 days. Approximately 0.6% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised MGN from a “sell (e)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, MGN has a consensus rating of “Sell”.

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MGN Trading Down 7.0%

NASDAQ:MGN traded down $0.01 during mid-day trading on Monday, hitting $0.11. The company had a trading volume of 879,518 shares, compared to its average volume of 11,352,412. MGN has a fifty-two week low of $0.11 and a fifty-two week high of $8.63. The company has a fifty day moving average price of $0.15. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.01.

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

About MGN

(Get Free Report)

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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