Short Interest in Mega Fortune Company Limited (NASDAQ:MGRT) Declines By 18.8%

Mega Fortune Company Limited (NASDAQ:MGRT) was the recipient of a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 16,661 shares, a decline of 18.8% from the December 31st total of 20,528 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 16,668 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily trading volume, of 16,668 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.1% of the shares of the company are short sold.

Analyst Ratings Changes

A number of research firms recently weighed in on MGRT. Weiss Ratings began coverage on shares of Mega Fortune in a research note on Thursday, October 9th. They issued a “sell (e-)” rating on the stock. 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, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Mega Fortune Trading Down 1.7%

Mega Fortune stock traded down $0.10 during trading hours on Monday, hitting $5.80. 7,287 shares of the stock were exchanged, compared to its average volume of 12,788. The stock has a 50-day moving average of $6.71. Mega Fortune has a 12 month low of $1.50 and a 12 month high of $14.50.

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.