Singularity Future Technology Ltd. (NASDAQ:SGLY) Short Interest Down 55.0% in January

Singularity Future Technology Ltd. (NASDAQ:SGLY) saw a large decline in short interest in January. As of January 30th, there was short interest totaling 91,309 shares, a decline of 55.0% from the January 15th total of 202,930 shares. Based on an average daily trading volume, of 257,685 shares, the short-interest ratio is currently 0.4 days. Currently, 2.4% of the shares of the stock are sold short. Currently, 2.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 257,685 shares, the short-interest ratio is currently 0.4 days.

Singularity Future Technology Trading Down 10.2%

NASDAQ:SGLY opened at $0.36 on Friday. The company has a market cap of $1.51 million, a P/E ratio of -0.12 and a beta of 1.57. Singularity Future Technology has a twelve month low of $0.35 and a twelve month high of $1.86. The company’s 50-day moving average price is $0.59 and its 200-day moving average price is $0.78.

Singularity Future Technology (NASDAQ:SGLY) last released its quarterly earnings data on Friday, February 13th. The company reported ($0.12) EPS for the quarter. Singularity Future Technology had a negative net margin of 766.97% and a negative return on equity of 43.78%. The business had revenue of $0.15 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Singularity Future Technology in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

About Singularity Future Technology

Singularity Future Technology Corp. is a blank check company incorporated in Delaware in March 2021. The company completed its initial public offering that same month and its units began trading on the Nasdaq under the ticker symbol SGLY. It was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other business combination with one or more businesses or entities.

Through its acquisition strategy, Singularity Future Technology seeks to identify high-growth targets in emerging technology sectors such as artificial intelligence, blockchain applications, digital infrastructure and other related fields.