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

FingerMotion, Inc. (NASDAQ:FNGR) was the recipient of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 6,916,889 shares, a decrease of 40.9% from the September 30th total of 11,696,865 shares. Based on an average daily trading volume, of 39,361,746 shares, the days-to-cover ratio is currently 0.2 days. Currently, 9.3% of the company’s shares are sold short.

FingerMotion Trading Up 4.8%

Shares of NASDAQ FNGR opened at $0.11 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $0.18 and a two-hundred day simple moving average of $0.65. The firm has a market cap of $10.47 million, a PE ratio of -0.68 and a beta of -0.33. FingerMotion has a twelve month low of $0.09 and a twelve month high of $1.68.

FingerMotion (NASDAQ:FNGR) last posted its quarterly earnings results on Thursday, October 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate of $6.00 million. FingerMotion had a negative return on equity of 74.12% and a negative net margin of 130.45%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On FingerMotion

A hedge fund recently raised its stake in FingerMotion stock. Platform Technology Partners increased its holdings in shares of FingerMotion, Inc. (NASDAQ:FNGR) by 54.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 259,643 shares of the company’s stock after purchasing an additional 92,028 shares during the period. Platform Technology Partners owned 0.42% of FingerMotion worth $258,000 as of its most recent SEC filing. Hedge funds and other 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. Through its subsidiaries and business partners, the company provides mobile payment and recharge services, telecommunications-related products, and other digital solutions for consumers and businesses.

FingerMotion’s service offerings have included mobile airtime and data recharges, bill-payment services, and messaging solutions. The company has also developed data-related capabilities through its Sapientus platform, which is intended to provide data insights and analytics for commercial applications, including the insurance industry.

In addition, FingerMotion has pursued opportunities in automobile insurance and related services in China.