Mega Fortune (NASDAQ:MGRT) Shares Gap Up – Still a Buy?

Mega Fortune Company Limited (NASDAQ:MGRT)’s stock price gapped up prior to trading on Friday. The stock had previously closed at $100.01, but opened at $104.96. Mega Fortune shares last traded at $106.0920, with a volume of 1,504 shares trading hands.

Wall Street Analyst Weigh In

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

Mega Fortune Stock Up 0.8%

The stock has a fifty day moving average of $105.42 and a 200-day moving average of $88.39.

Mega Fortune (NASDAQ:MGRT) last issued its quarterly earnings results on Tuesday, September 29th. The company reported ($0.13) earnings per share (EPS) for the quarter. The company had revenue of $0.26 million 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.