FingerMotion (NASDAQ:FNGR) Trading Down 6.9% – Here’s What Happened

FingerMotion, Inc. (NASDAQ:FNGR) dropped 6.9% during trading on Wednesday . The stock traded as low as $1.2001 and last traded at $1.2050. Approximately 154,968 shares traded hands during trading, a decline of 32% from the average daily volume of 229,132 shares. The stock had previously closed at $1.2950.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of FingerMotion in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

FingerMotion Price Performance

The firm has a fifty day simple moving average of $1.32 and a 200-day simple moving average of $1.48. The firm has a market cap of $73.84 million, a P/E ratio of -12.05 and a beta of -0.78.

FingerMotion (NASDAQ:FNGR) last issued its earnings results on Wednesday, January 14th. The company reported ($0.03) earnings per share for the quarter. FingerMotion had a negative return on equity of 34.78% and a negative net margin of 16.08%.The firm had revenue of $5.80 million for the quarter.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. XTX Topco Ltd bought a new stake in shares of FingerMotion during the second quarter worth about $42,000. WINTON GROUP Ltd acquired a new position in FingerMotion during the 2nd quarter valued at about $26,000. Envestnet Asset Management Inc. boosted its stake in FingerMotion by 143.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 60,029 shares of the company’s stock valued at $95,000 after purchasing an additional 35,388 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in FingerMotion by 75.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 41,534 shares of the company’s stock worth $66,000 after purchasing an additional 17,836 shares in the last quarter. 3.90% of the stock is currently owned by institutional investors and hedge funds.

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.