Millennium Group International Holdings Limited (NASDAQ:MGIH) Sees Large Decline in Short Interest

Millennium Group International Holdings Limited (NASDAQ:MGIH) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 2,863 shares, a drop of 68.2% from the June 15th total of 8,991 shares. Based on an average trading volume of 8,828 shares, the short-interest ratio is currently 0.3 days. Approximately 0.0% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Millennium Group International in a report on Monday, May 11th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Millennium Group International Stock Down 9.6%

NASDAQ:MGIH traded down $0.16 during trading hours on Friday, reaching $1.51. 49,592 shares of the company traded hands, compared to its average volume of 68,358. The business’s 50-day moving average price is $1.50 and its two-hundred day moving average price is $1.46. Millennium Group International has a 1 year low of $1.11 and a 1 year high of $4.84. The company has a quick ratio of 1.44, a current ratio of 1.61 and a debt-to-equity ratio of 0.02.

Millennium Group International (NASDAQ:MGIH) last released its earnings results on Thursday, June 25th. The company reported ($0.15) EPS for the quarter. The firm had revenue of $5.43 million during the quarter.

About Millennium Group International

Millennium Group International Holdings Limited, an investment holding company, provides paper-based packaging solutions in Mainland China, Hong Kong, Vietnam, rest of Southeast Asian countries, Australia, the United States, and internationally. The company offers paper packaging products, including cardboard boxes, gift boxes, displays, corrugated outer cartons, manuals, and user guides to footwear products, sportswear, cookware and kitchenware, smartphones, food and beverage, paper and packaging, non-food-and-beverage-consumables, logistics, e-commerce, and home electronics industries; and packaging solutions to various luxury products industries.