FingerMotion (NASDAQ:FNGR) Announces Earnings Results

FingerMotion (NASDAQ:FNGR) posted its quarterly earnings results on Wednesday. The company reported ($0.03) earnings per share for the quarter, Zacks reports. FingerMotion had a negative return on equity of 39.03% and a negative net margin of 14.82%.

FingerMotion Price Performance

FingerMotion stock traded down $0.04 during midday trading on Wednesday, reaching $1.16. The company had a trading volume of 281,699 shares, compared to its average volume of 208,044. FingerMotion has a 12-month low of $1.11 and a 12-month high of $5.20. The company has a market capitalization of $70.79 million, a P/E ratio of -11.60 and a beta of -0.83. The firm’s fifty day simple moving average is $1.37 and its 200-day simple moving average is $1.56.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of FingerMotion in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Investors Weigh In On FingerMotion

A number of institutional investors and hedge funds have recently made changes to their positions in FNGR. Envestnet Asset Management Inc. grew its holdings in FingerMotion by 143.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 60,029 shares of the company’s stock worth $95,000 after acquiring an additional 35,388 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in FingerMotion by 75.3% in the third quarter. Qube Research & Technologies Ltd now owns 41,534 shares of the company’s stock valued at $66,000 after purchasing an additional 17,836 shares during the period. XTX Topco Ltd purchased a new stake in FingerMotion during the 2nd quarter valued at approximately $42,000. Finally, WINTON GROUP Ltd purchased a new position in FingerMotion in the 2nd quarter valued at $26,000. 3.90% of the stock is owned by hedge funds and other institutional investors.

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.