Short Interest in Mega Fortune Company Limited (NASDAQ:MGRT) Declines By 18.8%

Mega Fortune Company Limited (NASDAQ:MGRT) saw a large decrease in short interest during the month of January. As of January 15th, there was short interest totaling 16,661 shares, a decrease of 18.8% from the December 31st total of 20,528 shares. Based on an average daily volume of 16,668 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.1% of the company’s stock are sold short. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 16,668 shares, the days-to-cover ratio is currently 1.0 days.

Analysts Set New Price Targets

MGRT has been the subject of several recent analyst reports. Wall Street Zen upgraded Mega Fortune to a “hold” rating in a research note on Saturday, December 27th. Weiss Ratings assumed coverage on shares of Mega Fortune in a research note on Thursday, October 9th. They issued a “sell (e-)” rating for the company. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Mega Fortune has an average rating of “Sell”.

Mega Fortune Trading Up 2.7%

Shares of NASDAQ:MGRT traded up $0.15 during trading on Wednesday, hitting $5.65. 1,992 shares of the stock were exchanged, compared to its average volume of 13,098. The company has a fifty day moving average price of $6.69. Mega Fortune has a 1-year low of $1.50 and a 1-year high of $14.50.

Mega Fortune Company Profile

We are a holding company incorporated as an exempted company with limited liability in the Cayman Islands. Our ordinary shares offered in this prospectus are shares of our Cayman Islands holding company. As a holding company with no material operations of our own, we conduct our business through our operating subsidiary in Hong Kong. We own 100% equity interest of all our subsidiaries and do not have a variable interest entity, or VIE, structure. We are an Internet of Things (“IoT”) solution provider in Hong Kong.