FingerMotion (NASDAQ:FNGR) Stock Price Down 2.8% – Here’s Why

Shares of FingerMotion, Inc. (NASDAQ:FNGR) were down 2.8% on Friday . The stock traded as low as $0.9704 and last traded at $0.9814. Approximately 154,313 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 208,870 shares. The stock had previously closed at $1.01.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of FingerMotion in a report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

FingerMotion Stock Down 2.8%

The company has a market capitalization of $60.14 million, a PE ratio of -9.81 and a beta of -0.46. The business’s 50 day simple moving average is $1.10 and its 200 day simple moving average is $1.26.

Hedge Funds Weigh In On FingerMotion

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WINTON GROUP Ltd acquired a new stake in FingerMotion during the 2nd quarter valued at $26,000. XTX Topco Ltd purchased a new stake in shares of FingerMotion in the fourth quarter valued at $34,000. Barclays PLC purchased a new position in FingerMotion during the 4th quarter valued at about $37,000. Qube Research & Technologies Ltd increased its holdings in shares of FingerMotion by 75.3% in the 3rd 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. Finally, Goldman Sachs Group Inc. acquired a new position in shares of FingerMotion in the 4th quarter valued at about $85,000. Institutional investors and hedge funds 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.