FingerMotion, Inc. (NASDAQ:FNGR) Shares Shorted: Short Interest Down 57.8% in September

FingerMotion, Inc. (NASDAQ:FNGR) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 3,694,448 shares, a drop of 57.8% from the August 31st total of 8,754,925 shares. Approximately 6.3% of the company’s stock are short sold. Based on an average daily volume of 8,263,058 shares, the days-to-cover ratio is currently 0.4 days.

FingerMotion Stock Down 6.2%

FingerMotion stock traded down $0.01 during mid-day trading on Monday, reaching $0.14. 3,857,731 shares of the company’s stock were exchanged, compared to its average volume of 9,957,668. The business’s fifty day simple moving average is $0.23 and its 200 day simple moving average is $0.60. The firm has a market capitalization of $10.25 million, a PE ratio of -1.18 and a beta of -0.37. FingerMotion has a one year low of $0.13 and a one year high of $2.20.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in FingerMotion stock. Platform Technology Partners grew its stake in shares of FingerMotion, Inc. (NASDAQ:FNGR) by 54.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 259,643 shares of the company’s stock after buying an additional 92,028 shares during the period. Platform Technology Partners owned 0.42% of FingerMotion worth $258,000 at the end of the most recent reporting period. 3.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of FingerMotion in a research report on Friday, September 18th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, FingerMotion presently has an average rating of “Sell”.

About FingerMotion

FingerMotion, Inc (NASDAQ: FNGR) is a mobile technology and services company focused primarily on the Chinese market. The company provides telecommunications products and services through carrier-related offerings, including mobile messaging, mobile top-up services, subscription plans and other solutions designed to support mobile users and businesses.

FingerMotion also develops data-driven technology through its Sapientus platform. Sapientus is designed to collect and analyze large amounts of data to help insurance companies and other organizations evaluate risk, improve customer engagement and develop more informed business and underwriting strategies.

The company was established in the 2010s and has built its operations around mobile communications, digital services and big-data applications in China, while maintaining a corporate presence in the United States.