Short Interest in Society Pass Incorporated (NASDAQ:SOPA) Decreases By 16.7%

Society Pass Incorporated (NASDAQ:SOPA) was the recipient of a significant drop in short interest in the month of March. As of March 31st, there was short interest totaling 87,288 shares, a drop of 16.7% from the March 15th total of 104,804 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average daily volume of 302,527 shares, the short-interest ratio is presently 0.3 days.

Institutional Investors Weigh In On Society Pass

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new stake in shares of Society Pass during the 2nd quarter valued at about $31,000. Geode Capital Management LLC raised its stake in shares of Society Pass by 43.3% during the fourth quarter. Geode Capital Management LLC now owns 48,129 shares of the company’s stock worth $183,000 after buying an additional 14,547 shares during the last quarter. Connective Capital Management LLC bought a new stake in shares of Society Pass during the fourth quarter worth approximately $282,000. Finally, HRT Financial LP acquired a new position in Society Pass during the fourth quarter valued at approximately $350,000. Hedge funds and other institutional investors own 3.09% of the company’s stock.

Society Pass Stock Down 8.5%

NASDAQ SOPA traded down $0.05 on Friday, hitting $0.51. The stock had a trading volume of 1,025,885 shares, compared to its average volume of 2,173,562. The company’s 50-day moving average is $0.65 and its two-hundred day moving average is $1.63. The stock has a market cap of $3.84 million, a price-to-earnings ratio of -0.21 and a beta of 2.01. Society Pass has a one year low of $0.32 and a one year high of $6.28.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SOPA shares. Zacks Research raised shares of Society Pass from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Wall Street Zen lowered shares of Society Pass to a “strong sell” rating in a report on Saturday, December 20th. Greenridge Global upgraded shares of Society Pass to a “strong-buy” rating in a report on Monday, December 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Society Pass in a report on Friday, March 27th. Finally, Ascendiant Capital Markets lifted their price target on shares of Society Pass from $22.00 to $22.50 and gave the stock a “buy” rating in a research note on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Society Pass presently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

About Society Pass

Society Pass Inc is a commerce-as-a-service holding company focused on creating and operating an omni-channel loyalty and rewards platform that connects consumers with a diversified portfolio of e-commerce marketplaces and digital services. Through its proprietary technology, the company enables users to earn and redeem loyalty points across various online and offline merchants, fostering repeat engagement for retail, travel, dining and entertainment partners. Society Pass’s model emphasizes the aggregation of customer data, personalized promotions and co-marketing programs to drive sales and brand awareness for its partner network.

The company’s core offerings include an e-commerce marketplace that spans categories such as consumer electronics, health and beauty, groceries, and lifestyle products.