FingerMotion, Inc. (NASDAQ:FNGR) Sees Large Drop in Short Interest

FingerMotion, Inc. (NASDAQ:FNGR) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totaling 3,694,448 shares, a decrease of 57.8% from the August 31st total of 8,754,925 shares. Based on an average daily volume of 8,263,058 shares, the days-to-cover ratio is presently 0.4 days. Currently, 6.3% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of FingerMotion in a research report on Friday, September 18th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, FingerMotion presently has an average rating of “Sell”.

FingerMotion Stock Performance

NASDAQ:FNGR opened at $0.14 on Wednesday. The stock has a 50-day simple moving average of $0.22 and a 200 day simple moving average of $0.58. FingerMotion has a 52-week low of $0.13 and a 52-week high of $2.20. The company has a market cap of $9.94 million, a PE ratio of -1.15 and a beta of -0.37.

FingerMotion (NASDAQ:FNGR) last released its earnings results on Wednesday, July 15th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $0.65 million for the quarter, compared to analysts’ expectations of $6.00 million. FingerMotion had a negative return on equity of 46.67% and a negative net margin of 42.81%.

Institutional Investors Weigh In On FingerMotion

A hedge fund recently raised its stake in FingerMotion stock. Platform Technology Partners grew its holdings in shares of FingerMotion, Inc. (NASDAQ:FNGR) by 54.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,643 shares of the company’s stock after buying an additional 92,028 shares during the quarter. Platform Technology Partners owned approximately 0.42% of FingerMotion worth $258,000 at the end of the most recent reporting period. Institutional investors own 3.90% of the company’s stock.

About FingerMotion

FingerMotion, Inc (NASDAQ: FNGR) is a mobile technology and services company focused primarily on the Chinese market. The company provides telecommunications products and services through carrier-related offerings, including mobile messaging, mobile top-up services, subscription plans and other solutions designed to support mobile users and businesses.

FingerMotion also develops data-driven technology through its Sapientus platform. Sapientus is designed to collect and analyze large amounts of data to help insurance companies and other organizations evaluate risk, improve customer engagement and develop more informed business and underwriting strategies.

The company was established in the 2010s and has built its operations around mobile communications, digital services and big-data applications in China, while maintaining a corporate presence in the United States.