FingerMotion, Inc. (NASDAQ:FNGR) Sees Large Increase in Short Interest

FingerMotion, Inc. (NASDAQ:FNGR) saw a large growth in short interest in August. As of August 31st, there was short interest totaling 8,754,925 shares, a growth of 846.8% from the August 15th total of 924,706 shares. Based on an average daily volume of 132,012,882 shares, the short-interest ratio is currently 0.1 days. Approximately 14.9% of the company’s stock are short sold.

FingerMotion Stock Down 7.5%

NASDAQ FNGR traded down $0.01 during midday trading on Friday, hitting $0.17. The company had a trading volume of 2,417,694 shares, compared to its average volume of 9,600,541. The firm has a fifty day simple moving average of $0.27 and a two-hundred day simple moving average of $0.68. FingerMotion has a fifty-two week low of $0.15 and a fifty-two week high of $2.20. The stock has a market cap of $12.42 million, a price-to-earnings ratio of -1.44 and a beta of -0.37.

FingerMotion (NASDAQ:FNGR) last released its earnings results on Wednesday, July 15th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate 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 analysts’ expectations of $6.00 million.

Institutional Trading of FingerMotion

A number of institutional investors and hedge funds have recently modified their holdings of the company. Platform Technology Partners raised its stake in shares of FingerMotion by 54.9% in the first quarter. Platform Technology Partners now owns 259,643 shares of the company’s stock valued at $258,000 after purchasing an additional 92,028 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of FingerMotion in the 4th quarter valued at $85,000. Envestnet Asset Management Inc. increased its position in shares of 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. Qube Research & Technologies Ltd lifted its holdings in FingerMotion by 75.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 41,534 shares of the company’s stock valued at $66,000 after purchasing an additional 17,836 shares during the last quarter. Finally, Barclays PLC acquired a new position in FingerMotion in the fourth quarter valued at about $37,000. 3.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

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.