MGN’s (NASDAQ:MGN) Lock-Up Period Will End Tomorrow

MGN’s (NASDAQ:MGN) lock-up period will expire on Wednesday, March 25th. MGN had issued 1,250,000 shares in its IPO on September 26th. The total size of the offering was $5,000,000 based on an initial share price of $4.00. After the end of MGN’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analyst Ratings Changes

Separately, Weiss Ratings initiated coverage on MGN in a report on Tuesday, March 17th. They issued a “sell (e+)” rating for the company. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, MGN currently has a consensus rating of “Sell”.

MGN Trading Down 12.8%

Shares of MGN stock opened at $4.10 on Tuesday. MGN has a twelve month low of $1.00 and a twelve month high of $8.63.

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.