Short Interest in Mega Fortune Company Limited (NASDAQ:MGRT) Drops By 59.3%

Mega Fortune Company Limited (NASDAQ:MGRT) saw a large decrease in short interest in the month of February. As of February 27th, there was short interest totaling 45,466 shares, a decrease of 59.3% from the February 12th total of 111,593 shares. Based on an average trading volume of 26,916 shares, the short-interest ratio is currently 1.7 days. Currently, 0.3% of the shares of the stock are short sold. Currently, 0.3% of the shares of the stock are short sold. Based on an average trading volume of 26,916 shares, the short-interest ratio is currently 1.7 days.

Mega Fortune Trading Down 3.1%

NASDAQ MGRT opened at $8.04 on Wednesday. The business’s 50-day moving average price is $6.62 and its two-hundred day moving average price is $5.84. Mega Fortune has a 12 month low of $1.50 and a 12 month high of $17.51.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded 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 currently has a consensus rating of “Sell”.

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.