Singularity Future Technology (NASDAQ:SGLY) Stock Rating Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Singularity Future Technology (NASDAQ:SGLY) from a hold rating to a sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Singularity Future Technology in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Singularity Future Technology has an average rating of “Sell”.

Singularity Future Technology Stock Performance

Shares of Singularity Future Technology stock opened at $0.51 on Friday. Singularity Future Technology has a one year low of $0.30 and a one year high of $14.28. The company has a market cap of $1.78 million, a price-to-earnings ratio of -0.02 and a beta of 1.45. The business’s 50 day moving average price is $1.07 and its 200 day moving average price is $4.57.

Singularity Future Technology (NASDAQ:SGLY) last issued its earnings results on Tuesday, October 13th. The company reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $7.00 by ($5.40). The firm had revenue of $0.83 million for the quarter, compared to analysts’ expectations of $11.30 million. Singularity Future Technology had a negative return on equity of 35.44% and a negative net margin of 347.46%.

Singularity Future Technology Company Profile

Singularity Future Technology Ltd. (NASDAQ: SGLY) is a technology company focused on blockchain infrastructure and digital asset-related services. Its activities have included the sale and deployment of cryptocurrency mining equipment, mining-machine hosting, and related technical and operational support.

The company has also pursued cryptocurrency mining and data-center initiatives, working to provide infrastructure for digital-asset mining operations. Its services may include equipment procurement, hosting arrangements, facility management and other support associated with blockchain computing.

Singularity Future Technology was formerly known as Sino-Global Shipping America Ltd., a company that provided shipping agency and logistics services.