MGN (NASDAQ:MGN) Shares Shorted: Short Interest Down 95.8% in September

MGN (NASDAQ:MGN) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totaling 32,996 shares, a decrease of 95.8% from the September 15th total of 778,085 shares. Based on an average daily trading volume, of 1,256,707 shares, the days-to-cover ratio is presently 0.0 days. Approximately 3.7% of the company’s shares are short sold.

MGN Stock Up 8.3%

Shares of NASDAQ MGN traded up $0.28 during mid-day trading on Friday, hitting $3.67. The company’s stock had a trading volume of 171,004 shares, compared to its average volume of 757,228. MGN has a one year low of $1.67 and a one year high of $155.40. The company’s fifty day simple moving average is $1,573.33 and its 200-day simple moving average is $9,585.93.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Weiss Ratings upgraded MGN from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, October 2nd. Wall Street Zen downgraded MGN from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 4th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock currently has a consensus 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.