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

MGN (NASDAQ:MGN) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 32,996 shares, a drop of 95.8% from the September 15th total of 778,085 shares. Based on an average daily volume of 1,256,707 shares, the short-interest ratio is currently 0.0 days. Currently, 3.7% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Weiss Ratings raised shares of MGN from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, October 2nd. Wall Street Zen cut shares of MGN from a “sell” rating to a “strong sell” rating in a research note on Sunday, October 4th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company has a consensus rating of “Sell”.

MGN Price Performance

MGN stock traded up $0.28 on Friday, reaching $3.67. The company’s stock had a trading volume of 171,004 shares, compared to its average volume of 757,228. The business’s fifty day moving average price is $1,573.33 and its 200 day moving average price is $9,585.93. MGN has a twelve month low of $1.67 and a twelve month high of $155.40.

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

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.