FingerMotion (NASDAQ:FNGR) Posts Earnings Results, Meets Expectations

FingerMotion (NASDAQ:FNGR) released its earnings results on Wednesday. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03), Zacks reports. FingerMotion had a negative return on equity of 45.03% and a negative net margin of 42.81%.The firm had revenue of $0.65 million during the quarter, compared to analyst estimates of $6.00 million.

FingerMotion Price Performance

NASDAQ FNGR opened at $0.35 on Friday. FingerMotion has a 1-year low of $0.30 and a 1-year high of $2.35. The firm has a market capitalization of $21.31 million, a P/E ratio of -2.90 and a beta of -0.44. The business’s 50-day simple moving average is $0.60 and its 200-day simple moving average is $0.95.

Analysts Set New Price Targets

Separately, Weiss Ratings cut FingerMotion from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FNGR. XTX Topco Ltd purchased a new stake in FingerMotion during the fourth quarter worth approximately $34,000. Barclays PLC purchased a new position in FingerMotion in the fourth quarter valued at about $37,000. Goldman Sachs Group Inc. purchased a new stake in shares of FingerMotion during the 4th quarter valued at about $85,000. Qube Research & Technologies Ltd lifted its holdings in FingerMotion by 75.3% in 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 in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of FingerMotion by 143.6% during the third quarter. Envestnet Asset Management Inc. now owns 60,029 shares of the company’s stock valued at $95,000 after acquiring an additional 35,388 shares in the last quarter. Hedge funds and other institutional investors own 3.90% of the company’s stock.

FingerMotion Company Profile

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.