Mogo (NASDAQ:MOGO) Shares Down 1.7% – Here’s Why

Shares of Mogo Inc (NASDAQ:MOGO) were down 1.7% during trading on Thursday . The company traded as low as $0.8251 and last traded at $0.8255. 24,776 shares were traded during mid-day trading, a decline of 99% from the average session volume of 2,693,901 shares. The stock had previously closed at $0.84.

Mogo Trading Down 1.7%

The company has a market capitalization of $19.79 million, a price-to-earnings ratio of 3.59 and a beta of 2.71. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average price is $0.78 and its two-hundred day moving average price is $0.93.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its holdings in shares of Mogo by 80.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 214,100 shares of the company’s stock valued at $229,000 after acquiring an additional 95,248 shares in the last quarter. Centiva Capital LP acquired a new position in Mogo in the 3rd quarter worth about $30,000. Two Sigma Investments LP bought a new position in Mogo in the third quarter valued at about $220,000. Tidal Investments LLC raised its position in Mogo by 9.8% in the second quarter. Tidal Investments LLC now owns 1,327,179 shares of the company’s stock valued at $1,672,000 after purchasing an additional 118,754 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Mogo during the fourth quarter valued at about $25,000. 14.79% of the stock is currently owned by institutional investors.

About Mogo

Mogo Inc is a Vancouver-based financial technology company that offers a suite of digital banking and personal finance products through a mobile-first platform. The firm’s core mission is to empower consumers with tools to manage their money, monitor their credit, and guard against identity fraud, all delivered via a unified smartphone application. By integrating multiple financial services into one interface, Mogo aims to simplify day-to-day money management and foster healthier financial habits among its members.

The company’s flagship offering is a prepaid Visa card that links directly to its app, enabling users to track spending in real time without the risk of overdraft fees associated with traditional credit cards.