Mogo Inc. (NASDAQ:MOGO) Sees Large Decrease in Short Interest

Mogo Inc. (NASDAQ:MOGO) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 64,700 shares, a drop of 23.6% from the August 15th total of 84,700 shares. Based on an average daily volume of 47,000 shares, the short-interest ratio is currently 1.4 days. Approximately 0.3% of the company’s stock are sold short.

Mogo Price Performance

Shares of NASDAQ MOGO opened at $1.16 on Monday. Mogo has a twelve month low of $0.95 and a twelve month high of $2.25. The firm has a market cap of $28.31 million, a P/E ratio of -2.57 and a beta of 2.79. The company has a 50 day moving average of $1.34 and a 200 day moving average of $1.62. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.45.

Mogo (NASDAQ:MOGO) last announced its earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.07. The business had revenue of $12.83 million during the quarter, compared to analyst estimates of $12.77 million. Mogo had a negative net margin of 24.68% and a negative return on equity of 17.25%. As a group, research analysts expect that Mogo will post -0.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright decreased their price objective on shares of Mogo from $8.00 to $6.00 and set a “buy” rating for the company in a report on Friday, August 9th.

Mogo Company Profile

Mogo Inc operates as a digital finance company in Canada, Europe, and internationally. The company's digital solutions help build wealth and achieve financial freedom. It provides MogoTrade, a stock trading app; Moka; and MogoMoney that provides online personal loans. The company also offers digital loans and mortgages; and operates a digital payments platform that powers next-generation card programs for both global corporations and fintech companies in Europe and Canada.