Mega Fortune Company Limited (NASDAQ:MGRT) Short Interest Down 18.8% in January

Mega Fortune Company Limited (NASDAQ:MGRT) was the target of a significant 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 presently 1.0 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 16,668 shares, the days-to-cover ratio is presently 1.0 days.

Mega Fortune Stock Performance

MGRT traded down $0.10 during trading on Monday, reaching $5.80. 7,287 shares of the company’s stock were exchanged, compared to its average volume of 12,788. The firm has a fifty day moving average of $6.71. Mega Fortune has a fifty-two week low of $1.50 and a fifty-two week high of $14.50.

Wall Street Analysts Forecast Growth

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