Mega Fortune (NASDAQ:MGRT) Posts Quarterly Earnings Results

Mega Fortune (NASDAQ:MGRT) posted its quarterly earnings results on Tuesday. The company reported ($0.13) earnings per share for the quarter, reports. The company had revenue of $0.26 million during the quarter.

Mega Fortune Stock Performance

MGRT traded up $1.75 during trading on Tuesday, hitting $119.75. 9,939 shares of the company’s stock traded hands, compared to its average volume of 48,819. The company’s 50 day simple moving average is $104.33 and its two-hundred day simple moving average is $86.25. Mega Fortune has a 12-month low of $4.04 and a 12-month high of $170.00.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Mega Fortune from a “sell (d-)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Mega Fortune presently has a consensus rating of “Hold”.

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.