Short Interest in FingerMotion, Inc. (NASDAQ:FNGR) Increases By 846.8%

FingerMotion, Inc. (NASDAQ:FNGR) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totaling 8,754,925 shares, a growth of 846.8% from the August 15th total of 924,706 shares. Based on an average daily trading volume, of 132,012,882 shares, the days-to-cover ratio is presently 0.1 days. Approximately 14.9% of the shares of the stock are short sold.

Institutional Investors Weigh In On FingerMotion

Hedge funds and other institutional investors have recently bought and sold shares of the company. Platform Technology Partners raised its stake in FingerMotion by 54.9% during the first quarter. Platform Technology Partners now owns 259,643 shares of the company’s stock worth $258,000 after purchasing an additional 92,028 shares during the period. Goldman Sachs Group Inc. purchased a new stake in shares of FingerMotion in the 4th quarter valued at approximately $85,000. Envestnet Asset Management Inc. grew its stake in shares of FingerMotion by 143.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 60,029 shares of the company’s stock valued at $95,000 after buying an additional 35,388 shares during the period. Qube Research & Technologies Ltd increased its holdings in shares of FingerMotion by 75.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 41,534 shares of the company’s stock worth $66,000 after buying an additional 17,836 shares during the last quarter. Finally, Barclays PLC acquired a new stake in shares of FingerMotion during the 4th quarter worth approximately $37,000. 3.90% of the stock is currently owned by institutional investors and hedge funds.

FingerMotion Price Performance

Shares of NASDAQ:FNGR traded down $0.01 during midday trading on Friday, hitting $0.17. The company had a trading volume of 3,946,971 shares, compared to its average volume of 14,365,213. FingerMotion has a twelve month low of $0.15 and a twelve month high of $2.20. The stock has a market cap of $12.44 million, a price-to-earnings ratio of -1.44 and a beta of -0.37. The business’s 50-day simple moving average is $0.27 and its 200-day simple moving average is $0.67.

FingerMotion (NASDAQ:FNGR) last released its quarterly earnings data on Wednesday, July 15th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). FingerMotion had a negative return on equity of 46.67% and a negative net margin of 42.81%.The company had revenue of $0.65 million for the quarter, compared to analyst estimates of $6.00 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of FingerMotion from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 23rd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, FingerMotion presently has an average rating of “Sell”.

About FingerMotion

FingerMotion, Inc is a mobile technology solutions provider focused on delivering affordable smartphones and digital services to emerging markets. The company’s core operations include the design, manufacture, and distribution of mobile devices under its proprietary Spyce brand, offering entry-level and mid-range handsets optimized for performance, security, and ease of use. FingerMotion integrates embedded software applications and firmware enhancements to improve user experience, device management, and after-sales support.

In addition to hardware, FingerMotion has developed a suite of mobile financial services and digital commerce offerings.