Mega Fortune Company Limited’s Lock-Up Period To End Tomorrow (NASDAQ:MGRT)

Mega Fortune’s (NASDAQ:MGRT) lock-up period is set to end on Monday, January 12th. Mega Fortune had issued 3,750,000 shares in its public offering on July 16th. The total size of the offering was $15,000,000 based on an initial share price of $4.00. After the end of Mega Fortune’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Mega Fortune to a “hold” rating in a report on Saturday, December 27th. Weiss Ratings began coverage on shares of Mega Fortune in a report on Thursday, October 9th. They set a “sell (e-)” rating for the company. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Mega Fortune Stock Performance

NASDAQ MGRT opened at $6.10 on Friday. Mega Fortune has a 1 year low of $1.50 and a 1 year high of $14.50. The stock’s fifty day moving average price is $6.72.

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.