Singularity Future Technology Ltd. (NASDAQ:SGLY) Sees Large Drop in Short Interest

Singularity Future Technology Ltd. (NASDAQ:SGLY) was the recipient of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 84,900 shares, a decline of 13.6% from the February 28th total of 98,300 shares. Based on an average daily volume of 1,610,000 shares, the short-interest ratio is currently 0.1 days. Currently, 2.0% of the shares of the company are short sold.

Singularity Future Technology Price Performance

Shares of SGLY opened at $0.68 on Thursday. The company’s 50-day moving average is $0.94 and its 200-day moving average is $1.49. The firm has a market capitalization of $2.86 million, a PE ratio of -0.95 and a beta of 0.89. Singularity Future Technology has a fifty-two week low of $0.54 and a fifty-two week high of $7.65.

Singularity Future Technology (NASDAQ:SGLY) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.19) earnings per share for the quarter. The company had revenue of $0.48 million during the quarter. Singularity Future Technology had a negative net margin of 132.89% and a negative return on equity of 25.97%.

Singularity Future Technology Company Profile

Singularity Future Technology Ltd. operates as an integrated logistics solutions provider in China and the United States. It offers freight logistics services, including shipping, transportation, warehouse, collection, last-mile delivery, drop shipping, customs clearance, and overseas transit delivery services.