FingerMotion (NASDAQ:FNGR) Releases Quarterly Earnings Results, Meets Expectations

FingerMotion (NASDAQ:FNGR) announced its earnings results on Friday. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03), FiscalAI reports. The business had revenue of $1.23 million during the quarter, compared to the consensus estimate of $6.00 million. FingerMotion had a negative net margin of 16.08% and a negative return on equity of 34.78%.

FingerMotion Stock Down 1.8%

Shares of NASDAQ:FNGR traded down $0.01 during midday trading on Friday, hitting $0.77. The stock had a trading volume of 122,723 shares, compared to its average volume of 224,043. The company’s 50-day moving average price is $0.95 and its 200-day moving average price is $1.17. The company has a market capitalization of $47.19 million, a P/E ratio of -7.70 and a beta of -0.46. FingerMotion has a fifty-two week low of $0.75 and a fifty-two week high of $3.23.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of FingerMotion from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Hedge Funds Weigh In On FingerMotion

Several hedge funds and other institutional investors have recently made changes to their positions in the company. XTX Topco Ltd acquired a new position in shares of FingerMotion in the 4th quarter valued at approximately $34,000. Barclays PLC acquired a new position in shares of FingerMotion in the 4th quarter valued at approximately $37,000. Goldman Sachs Group Inc. acquired a new position in shares of FingerMotion in the 4th quarter valued at approximately $85,000. Qube Research & Technologies Ltd increased its position in FingerMotion by 75.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 41,534 shares of the company’s stock worth $66,000 after purchasing an additional 17,836 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in FingerMotion by 143.6% during 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. 3.90% of the stock is currently owned by institutional investors and hedge funds.

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.