Short Interest in Singularity Future Technology Ltd. (NASDAQ:SGLY) Rises By 46.7%

Singularity Future Technology Ltd. (NASDAQ:SGLY) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 174,836 shares, an increase of 46.7% from the December 15th total of 119,141 shares. Based on an average daily trading volume, of 1,051,371 shares, the short-interest ratio is currently 0.2 days. Approximately 4.6% of the company’s shares are short sold. Approximately 4.6% of the company’s shares are short sold. Based on an average daily trading volume, of 1,051,371 shares, the short-interest ratio is currently 0.2 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Singularity Future Technology in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Singularity Future Technology Trading Up 4.5%

Shares of Singularity Future Technology stock opened at $0.75 on Friday. The business’s fifty day moving average price is $0.62 and its 200 day moving average price is $0.85. Singularity Future Technology has a twelve month low of $0.45 and a twelve month high of $5.49. The stock has a market capitalization of $3.16 million, a P/E ratio of -0.25 and a beta of 1.19.

Singularity Future Technology Company Profile

Singularity Future Technology Corp. is a blank check company incorporated in Delaware in March 2021. The company completed its initial public offering that same month and its units began trading on the Nasdaq under the ticker symbol SGLY. It was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other business combination with one or more businesses or entities.

Through its acquisition strategy, Singularity Future Technology seeks to identify high-growth targets in emerging technology sectors such as artificial intelligence, blockchain applications, digital infrastructure and other related fields.