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

FingerMotion, Inc. (NASDAQ:FNGR) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 6,916,889 shares, a decrease of 40.9% from the September 30th total of 11,696,865 shares. Based on an average trading volume of 39,361,746 shares, the short-interest ratio is currently 0.2 days. Currently, 9.3% of the shares of the company are short sold.

FingerMotion Stock Performance

NASDAQ:FNGR traded down $0.03 during trading hours on Friday, reaching $0.11. The company had a trading volume of 48,884,769 shares, compared to its average volume of 22,397,404. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.02. The firm’s 50 day moving average price is $0.18 and its 200-day moving average price is $0.66. The firm has a market cap of $10.35 million, a price-to-earnings ratio of -0.66 and a beta of -0.33. FingerMotion has a 52 week low of $0.10 and a 52 week high of $1.68.

FingerMotion (NASDAQ:FNGR) last issued its earnings results on Thursday, October 15th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $6.00 million. FingerMotion had a negative return on equity of 74.12% and a negative net margin of 130.45%.

Institutional Investors Weigh In On FingerMotion

An institutional investor recently raised its position in FingerMotion stock. Platform Technology Partners lifted its stake in shares of FingerMotion, Inc. (NASDAQ:FNGR) by 54.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 259,643 shares of the company’s stock after acquiring an additional 92,028 shares during the period. Platform Technology Partners owned 0.42% of FingerMotion worth $258,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 3.90% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of FingerMotion in a research note on Friday, September 18th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

FingerMotion Company Profile

FingerMotion, Inc (NASDAQ: FNGR) is a mobile technology and services company focused primarily on the Chinese market. Through its subsidiaries and business partners, the company provides mobile payment and recharge services, telecommunications-related products, and other digital solutions for consumers and businesses.

FingerMotion’s service offerings have included mobile airtime and data recharges, bill-payment services, and messaging solutions. The company has also developed data-related capabilities through its Sapientus platform, which is intended to provide data insights and analytics for commercial applications, including the insurance industry.

In addition, FingerMotion has pursued opportunities in automobile insurance and related services in China.