MGN (NASDAQ:MGN) Short Interest Up 182.0% in August

MGN (NASDAQ:MGN) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totaling 669,792 shares, a growth of 182.0% from the August 15th total of 237,476 shares. Based on an average daily trading volume, of 14,563,290 shares, the days-to-cover ratio is currently 0.0 days. Currently, 2.2% of the shares of the stock are short sold.

MGN Stock Up 4.6%

NASDAQ MGN opened at $0.18 on Tuesday. MGN has a 1 year low of $0.15 and a 1 year high of $345.20. The firm has a fifty day moving average of $112.32. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.01.

MGN’s stock is scheduled to reverse split on Thursday, September 17th. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, September 16th.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of MGN in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, MGN 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.