FingerMotion Target of Unusually High Options Trading (NASDAQ:FNGR)

FingerMotion, Inc. (NASDAQ:FNGR) was the target of some unusual options trading activity on Friday. Investors acquired 8,524 call options on the company. This is an increase of approximately 986% compared to the average daily volume of 785 call options.

FingerMotion Stock Up 129.5%

Shares of NASDAQ:FNGR opened at $0.40 on Friday. The company has a 50 day moving average of $0.31 and a 200-day moving average of $0.74. FingerMotion has a twelve month low of $0.15 and a twelve month high of $2.20.

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On FingerMotion

Several hedge funds have recently modified their holdings of the company. XTX Topco Ltd bought a new stake in shares of FingerMotion in the 2nd quarter worth $42,000. WINTON GROUP Ltd bought a new position in FingerMotion during the second quarter valued at about $26,000. Envestnet Asset Management Inc. boosted its stake in FingerMotion by 143.6% during the third quarter. Envestnet Asset Management Inc. now owns 60,029 shares of the company’s stock valued at $95,000 after buying an additional 35,388 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in FingerMotion by 75.3% during the third quarter. Qube Research & Technologies Ltd now owns 41,534 shares of the company’s stock worth $66,000 after acquiring an additional 17,836 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new position in FingerMotion during the fourth quarter worth about $85,000. 3.90% of the stock is currently owned by institutional investors and hedge funds.

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.