MGN (NASDAQ:MGN) Short Interest Down 82.4% in August

MGN (NASDAQ:MGN) was the recipient of a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 237,476 shares, a decrease of 82.4% from the July 30th total of 1,346,789 shares. Based on an average daily volume of 107,148,347 shares, the short-interest ratio is currently 0.0 days. Approximately 0.6% of the shares of the company are sold short.

MGN Trading Down 1.1%

Shares of MGN stock traded down $0.00 during mid-day trading on Friday, reaching $0.11. 443,878 shares of the company’s stock traded hands, compared to its average volume of 64,710,336. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.05 and a quick ratio of 2.05. MGN has a 12 month low of $0.06 and a 12 month high of $8.63. The firm’s 50 day moving average price is $4.18.

Shares of MGN are going to reverse split on Tuesday, September 8th. The 1-40 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, September 7th.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of MGN from a “sell (e)” rating to a “sell (d-)” rating in a report on Monday, June 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average 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.