MGN (NASDAQ:MGN) Shares Up 11.1% – What’s Next?

Shares of MGN (NASDAQ:MGN) shot up 11.1% during mid-day trading on Friday . The stock traded as high as $2.10 and last traded at $2.00. 169,720 shares traded hands during mid-day trading, a decline of 11% from the average session volume of 191,262 shares. The stock had previously closed at $1.80.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings initiated coverage on shares of MGN in a research note on Wednesday, January 14th. They set a “sell (e-)” rating for the company. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, MGN currently has an average rating of “Sell”.

MGN Price Performance

MGN (NASDAQ:MGN) last posted its quarterly earnings data on Thursday, January 15th. The company reported $0.03 earnings per share (EPS) for the quarter. The business had revenue of $3.31 million during the quarter.

Institutional Investors Weigh In On MGN

An institutional investor recently bought a new position in MGN stock. Oasis Management Co Ltd. acquired a new position in MGN (NASDAQ:MGN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,390 shares of the company’s stock, valued at approximately $27,000. Oasis Management Co Ltd. owned approximately 0.11% of MGN at the end of the most recent reporting period.

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.