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

Mega Fortune Company Limited (NASDAQ:MGRT) was the target of a large growth in short interest in 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 days-to-cover ratio is currently 0.5 days. Currently, 0.8% of the company’s shares are sold short. Currently, 0.8% of the company’s shares are sold short. Based on an average daily volume of 231,931 shares, the days-to-cover ratio is currently 0.5 days.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of 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 data from MarketBeat, Mega Fortune has an average rating of “Sell”.

Mega Fortune Trading Down 3.0%

Shares of MGRT traded down $0.19 during midday trading on Wednesday, reaching $6.16. 6,738 shares of the company were exchanged, compared to its average volume of 127,053. Mega Fortune has a 1-year low of $1.50 and a 1-year high of $17.51. The stock has a 50-day moving average price of $6.90 and a 200-day moving average price of $5.55.

About Mega Fortune

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.