Short Interest in Mega Fortune Company Limited (NASDAQ:MGRT) Rises By 41.7%

Key Points

• Short interest rose 41.7% to 51,774 shares as of April 15, equal to about 0.4% of the float and a very low short-interest ratio of 0.2 days based on reported average daily volume.
• Stock slid 1.8% to $138.44 on Tuesday with 15,762 shares traded (versus a cited average volume of ~90,615), and the shares sit in a wide 52-week range of $1.50–$170.00.
• Company profile and recent results: Mega Fortune is a Cayman Islands holding company operating an IoT business through a Hong Kong subsidiary and reported $0.04 EPS for the quarter ended Feb. 3.

Mega Fortune Company Limited (NASDAQ:MGRT - Get Free Report) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totaling 51,774 shares, an increase of 41.7% from the March 31st total of 36,543 shares. Approximately 0.4% of the company's stock are sold short. Based on an average daily volume of 343,319 shares, the short-interest ratio is currently 0.2 days.

Mega Fortune Stock Down 1.8%

Shares of MGRT stock traded down $2.56 on Tuesday, hitting $138.44. 15,762 shares of the stock were exchanged, compared to its average volume of 90,615. Mega Fortune has a fifty-two week low of $1.50 and a fifty-two week high of $170.00. The business has a 50-day moving average of $34.13 and a 200 day moving average of $16.08.

Mega Fortune (NASDAQ:MGRT - Get Free Report) last announced its earnings results on Tuesday, February 3rd. The company reported $0.04 earnings per share (EPS) for the quarter.

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.

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