Almost all antenna analysers are very easily damaged by static. However, your MFJ unit looks OK at close to 50 Ohms. There is an ARRL review of the similar 269 in the May 2005 QST, it shows reasonable accuracy, 5 Ohms (10:1 SWR) gave between 9:1 and 12:1 depending on frequency. 1000 Ohms (20:1) gave between 19:1 and 27:1. The measurements were on HF and 6m.
It is nowhere near the accuracy of my RigExpert AA-230 Zoom (review in March 2016 QST), but as it looks OK up to 3:1 on high Z loads, try it on 5 Ohms (3 x 15 Ohms spread around a plug). It might not be faulty, just not much use on very poor loads. Do test it with your resistive loads connected directly to the analyser, not on the end of 25 foot of coax, and see if that gives closer results.
73 Dave