Short Interest in Mega Fortune Company Limited (NASDAQ:MGRT) Expands By 575.5%

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Mega Fortune to a “hold” rating in a research note on Saturday, December 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Mega Fortune Price Performance

MGRT stock traded down $0.19 during midday trading on Wednesday, hitting $6.16. 6,738 shares of the company’s stock were exchanged, compared to its average volume of 127,053. The firm has a 50 day moving average price of $6.90 and a 200-day moving average price of $5.55. Mega Fortune has a 12-month low of $1.50 and a 12-month high of $17.51.

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.