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

MGN (NASDAQ:MGN) shot up 11.1% during trading on Friday . The company traded as high as $2.10 and last traded at $2.00. 169,720 shares were traded 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.

Analysts Set New Price Targets

Separately, Weiss Ratings started coverage on shares of MGN in a research note on Wednesday, January 14th. They issued a “sell (e-)” rating on the stock. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

MGN Stock Performance

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

Institutional Trading of MGN

A hedge fund recently bought a new stake in MGN stock. Oasis Management Co Ltd. acquired a new stake in shares of MGN (NASDAQ:MGN) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 17,390 shares of the company’s stock, valued at approximately $27,000. Oasis Management Co Ltd. owned about 0.11% of MGN as of its most recent SEC filing.

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.