Short Interest in Society Pass Incorporated (NASDAQ:SOPA) Rises By 375.6%

Society Pass Incorporated (NASDAQ:SOPA) saw a significant increase in short interest in the month of April. As of April 30th, there was short interest totaling 865,672 shares, an increase of 375.6% from the April 15th total of 182,002 shares. Currently, 12.0% of the shares of the stock are sold short. Based on an average trading volume of 844,610 shares, the days-to-cover ratio is currently 1.0 days.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SOPA. Zacks Research raised Society Pass from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Weiss Ratings cut Society Pass from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Society Pass presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Institutional Trading of Society Pass

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in shares of Society Pass by 43.3% in the fourth quarter. Geode Capital Management LLC now owns 48,129 shares of the company’s stock valued at $183,000 after buying an additional 14,547 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Society Pass in the second quarter valued at $31,000. Connective Capital Management LLC acquired a new stake in shares of Society Pass in the fourth quarter valued at $282,000. Finally, HRT Financial LP acquired a new stake in shares of Society Pass in the fourth quarter valued at $350,000. 3.09% of the stock is currently owned by institutional investors and hedge funds.

Society Pass Stock Performance

Shares of NASDAQ:SOPA opened at $0.36 on Wednesday. Society Pass has a twelve month low of $0.32 and a twelve month high of $6.28. The firm has a market cap of $2.70 million, a PE ratio of -0.15 and a beta of 1.80. The business has a fifty day moving average of $0.51 and a 200-day moving average of $1.35.

About Society Pass

Society Pass Inc is a commerce-as-a-service holding company focused on creating and operating an omni-channel loyalty and rewards platform that connects consumers with a diversified portfolio of e-commerce marketplaces and digital services. Through its proprietary technology, the company enables users to earn and redeem loyalty points across various online and offline merchants, fostering repeat engagement for retail, travel, dining and entertainment partners. Society Pass’s model emphasizes the aggregation of customer data, personalized promotions and co-marketing programs to drive sales and brand awareness for its partner network.

The company’s core offerings include an e-commerce marketplace that spans categories such as consumer electronics, health and beauty, groceries, and lifestyle products.