FingerMotion, Inc. (NASDAQ:FNGR) Short Interest Down 47.5% in August

FingerMotion, Inc. (NASDAQ:FNGR) saw a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 924,706 shares, a drop of 47.5% from the July 30th total of 1,761,662 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average daily volume of 6,121,965 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut FingerMotion from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 23rd. 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 Trading Down 44.0%

Shares of FingerMotion stock opened at $0.22 on Tuesday. FingerMotion has a 1 year low of $0.15 and a 1 year high of $2.20. The firm’s 50-day moving average is $0.31 and its 200 day moving average is $0.73.

FingerMotion (NASDAQ:FNGR) last released its quarterly earnings data on Wednesday, July 15th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). The business had revenue of $0.65 million during the quarter, compared to analyst estimates of $6.00 million. FingerMotion had a negative net margin of 42.81% and a negative return on equity of 46.67%.

Institutional Investors Weigh In On FingerMotion

Several institutional investors and hedge funds have recently made changes to their positions in the company. WINTON GROUP Ltd purchased a new position in FingerMotion in the 2nd quarter worth approximately $26,000. Qube Research & Technologies Ltd boosted its stake in FingerMotion by 75.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 41,534 shares of the company’s stock valued at $66,000 after purchasing an additional 17,836 shares during the last quarter. XTX Topco Ltd purchased a new stake in FingerMotion during the 2nd quarter valued at $42,000. Barclays PLC bought a new stake in shares of FingerMotion in the 4th quarter worth $37,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of FingerMotion by 143.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 60,029 shares of the company’s stock worth $95,000 after purchasing an additional 35,388 shares in the last quarter. Institutional investors own 3.90% of the company’s stock.

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.