MGN (NASDAQ:MGN) Stock Price Up 11.1% – Here’s Why

MGN (NASDAQ:MGN)’s stock price traded up 11.1% on Friday . The stock traded as high as $2.10 and last traded at $2.00. 169,720 shares were traded during mid-day trading, a decline of 11% from the average session volume of 191,262 shares. The stock had previously closed at $1.80.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings began coverage on MGN in a research note on Wednesday, January 14th. They set a “sell (e-)” rating for the company. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

MGN Stock Performance

MGN (NASDAQ:MGN) last released its quarterly earnings results on Thursday, January 15th. The company reported $0.03 earnings per share for the quarter. The firm had revenue of $3.31 million for the quarter.

Hedge Funds Weigh In On MGN

An institutional investor recently bought a new position in MGN stock. Oasis Management Co Ltd. acquired a new position in MGN (NASDAQ:MGN) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 17,390 shares of the company’s stock, valued at approximately $27,000. Oasis Management Co Ltd. owned 0.11% of MGN as of its most recent filing with the Securities & Exchange Commission.

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.