Mega Fortune Company Limited (NASDAQ:MGRT) Sees Significant Growth in Short Interest

Mega Fortune Company Limited (NASDAQ:MGRT) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totaling 20,528 shares, a growth of 106.5% from the December 15th total of 9,940 shares. Based on an average daily volume of 612,992 shares, the short-interest ratio is currently 0.0 days. Currently, 0.1% of the shares of the stock are short sold. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 612,992 shares, the short-interest ratio is currently 0.0 days.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wall Street Zen raised Mega Fortune to a “hold” rating in a report on Saturday, December 27th. Weiss Ratings assumed coverage on Mega Fortune in a research note on Thursday, October 9th. They set a “sell (e-)” rating for the company. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Mega Fortune Price Performance

Shares of NASDAQ:MGRT opened at $6.02 on Friday. The business has a fifty day simple moving average of $6.76. Mega Fortune has a 52 week low of $1.50 and a 52 week 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.