Singularity Future Technology (NASDAQ:SGLY) Raised to Hold at Wall Street Zen

Singularity Future Technology (NASDAQ:SGLY) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Singularity Future Technology in a research note on Monday, August 3rd. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Singularity Future Technology Price Performance

SGLY stock opened at $0.70 on Friday. Singularity Future Technology has a 52-week low of $0.66 and a 52-week high of $14.28. The company’s 50 day simple moving average is $2.41 and its 200-day simple moving average is $4.24. The firm has a market capitalization of $2.47 million, a P/E ratio of -0.03 and a beta of 1.45.

Singularity Future Technology (NASDAQ:SGLY) last issued its quarterly earnings results on Tuesday, October 13th. The company reported $1.60 EPS for the quarter, missing the consensus estimate of $7.00 by ($5.40). Singularity Future Technology had a negative net margin of 347.46% and a negative return on equity of 35.44%. The firm had revenue of $0.83 million during the quarter, compared to analysts’ expectations of $11.30 million.

About Singularity Future Technology

Singularity Future Technology Ltd., formerly known as Sino-Global Shipping America Ltd., is a logistics and supply chain services company. Its traditional business has included shipping agency services, freight forwarding, container trucking, warehousing coordination and related transportation support for cargo moving through international trade routes.

The company has historically served customers involved in global shipping, with operations and business relationships connected to the United States and China.