FingerMotion (NASDAQ:FNGR) Posts Earnings Results, Beats Expectations By $0.02 EPS

FingerMotion (NASDAQ:FNGR) posted its quarterly earnings results on Wednesday. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02, Zacks reports. FingerMotion had a negative return on equity of 44.60% and a negative net margin of 29.00%.

FingerMotion Stock Down 1.4%

Shares of FingerMotion stock traded down $0.01 during mid-day trading on Wednesday, hitting $0.36. The stock had a trading volume of 125,915 shares, compared to its average volume of 450,450. The firm has a 50-day moving average of $0.62 and a two-hundred day moving average of $0.96. The firm has a market cap of $21.88 million, a P/E ratio of -2.75 and a beta of -0.44. FingerMotion has a 12-month low of $0.30 and a 12-month high of $2.35.

Institutional Investors Weigh In On FingerMotion

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FNGR. WINTON GROUP Ltd acquired a new position in shares of FingerMotion in the 2nd quarter valued at $26,000. XTX Topco Ltd acquired a new stake in shares of FingerMotion during the 4th quarter worth about $34,000. Barclays PLC purchased a new stake in FingerMotion in the 4th quarter valued at about $37,000. Qube Research & Technologies Ltd raised its holdings in FingerMotion by 75.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 41,534 shares of the company’s stock valued at $66,000 after buying an additional 17,836 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new position in FingerMotion in the fourth quarter valued at about $85,000. Institutional investors and hedge funds own 3.90% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings cut FingerMotion from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

About FingerMotion

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.