Mega Fortune Company Limited (NASDAQ:MGRT) Short Interest Update

Mega Fortune Company Limited (NASDAQ:MGRT) saw a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 111,593 shares, a growth of 575.5% from the January 29th total of 16,521 shares. Based on an average daily volume of 231,931 shares, the short-interest ratio is currently 0.5 days. Currently, 0.8% of the shares of the stock are short sold. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily volume of 231,931 shares, the short-interest ratio is currently 0.5 days.

Mega Fortune Stock Up 2.1%

Shares of MGRT traded up $0.13 during midday trading on Thursday, reaching $6.29. The company had a trading volume of 30,865 shares, compared to its average volume of 74,741. Mega Fortune has a 1-year low of $1.50 and a 1-year high of $17.51. The firm has a 50 day simple moving average of $6.90 and a 200-day simple moving average of $5.55.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Mega Fortune to a “hold” rating in a research report on Saturday, December 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Mega Fortune has a consensus rating of “Sell”.

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.