Magnitude International Stock Price, News & Analysis
Company Description
Magnitude International Ltd (NASDAQ: MAGH) is a Singapore-based company in the engineering and construction industry that focuses on electrical installation services. According to the company’s public disclosures, it serves both private and public sector customers in Singapore and participates in construction projects as the main electrical contractor.
The company states that it provides electrical installation services that cover planning, design, material selection, installation, testing, commissioning and certification of electrical equipment and systems. Its activities include the installation of generators and transformers, as well as alteration and addition works such as rewiring and the installation of solar panel systems. Based on available information, the group’s revenue is derived from Singapore.
Magnitude International Ltd was founded in 2012 and reports that it has more than 12 years of experience in electrical installation work. Over this period, it has taken part in a range of greenfield and brownfield electrical installation projects in Singapore. In these projects, the company primarily acts as the main electrical contractor, coordinating and executing electrical works within broader construction and infrastructure developments.
Business focus and services
The company describes itself as an electrical installation service provider to both private and public sector customers. Its work involves the installation and commissioning of electrical equipment and systems, including generators and transformers. It also undertakes alteration and addition projects, which can involve rewiring and the installation of solar panel systems.
Magnitude International Ltd indicates that it provides services across the lifecycle of an electrical installation project, from planning and design through to testing, commissioning and certification. This scope reflects its role as a main electrical contractor on construction projects in Singapore.
Geographic focus
Based on the information provided, Magnitude International Ltd operates in Singapore, and the group’s revenue is derived from Singapore. The company is described as a Singapore-based electrical installation service provider, and its activities are framed around construction projects in that market.
Listing and capital markets
Magnitude International Ltd’s ordinary shares trade on the Nasdaq Capital Market under the ticker symbol MAGH. The company completed an initial public offering of ordinary shares that was registered with the U.S. Securities and Exchange Commission on Form F-1. The offering was conducted on a firm commitment basis, with an underwriter arranging the sale of shares to investors.
The company has indicated that the net proceeds from the offering that it conducted are intended for purposes such as expansion and growth through strategic acquisitions, joint ventures or strategic alliances, the purchase of materials, expansion of its workforce, moving to a larger head office, renting a larger dormitory for foreign workers, digitalizing systems, upgrading equipment, investing in software solutions such as enterprise resource planning and human resource systems, and for working capital and general corporate purposes.
Projects and experience
Magnitude International Ltd reports that it has participated in a range of greenfield and brownfield electrical installation projects. In these projects, it primarily acts as the main electrical contractor. Its disclosed experience includes installation work for generators, transformers, and various alteration and addition works, including rewiring and solar panel system installation.
Mission and stated objectives
The company has articulated a mission to become one of the integrated one-stop electrical installation services providers in Singapore. It also states that it aims to add value to stakeholders by ensuring that buildings it services are safe, functional and energy efficient.
Industry classification
Magnitude International Ltd is classified in the engineering and construction industry within the industrials sector. Its activities are centered on electrical installation services in construction and related projects.
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Short Interest History
Short interest in Magnitude International (MAGH) currently stands at 502.7 thousand shares, down 0.6% from the previous reporting period, representing 1.4% of the float. Over the past 12 months, short interest has increased by 268%. This relatively low short interest suggests limited bearish sentiment. With 1000.0 days to cover, it would take significant time for short sellers to close their positions based on average trading volume.
Days to Cover History
Days to cover for Magnitude International (MAGH) currently stands at 1000.0 days, up 99899% from the previous period. This elevated days-to-cover ratio indicates it would take over two weeks of average trading volume for short sellers to exit their positions, suggesting potential for a short squeeze if positive news emerges. The days to cover has increased 99899% over the past year, indicating either rising short interest or declining trading volume. The ratio has shown significant volatility over the period, ranging from 1.0 to 1000.0 days.