Short Interest in Society Pass Incorporated (NASDAQ:SOPA) Grows By 674.2%

Society Pass Incorporated (NASDAQ:SOPA) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 204,400 shares, an increase of 674.2% from the September 30th total of 26,400 shares. Currently, 3.8% of the shares of the company are sold short. Based on an average daily volume of 3,650,000 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 3,650,000 shares, the days-to-cover ratio is presently 0.1 days. Currently, 3.8% of the shares of the company are sold short.

Society Pass Stock Performance

Shares of NASDAQ:SOPA opened at $2.80 on Thursday. Society Pass has a twelve month low of $0.64 and a twelve month high of $6.75. The firm has a market cap of $17.11 million, a PE ratio of -1.39 and a beta of 1.78. The business has a fifty day moving average of $1.95 and a 200-day moving average of $1.47.

Society Pass (NASDAQ:SOPA) last announced its earnings results on Wednesday, August 13th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.34. The business had revenue of $2.50 million during the quarter, compared to analyst estimates of $1.50 million. On average, analysts anticipate that Society Pass will post -2.65 EPS for the current fiscal year.

Institutional Trading of Society Pass

A hedge fund recently bought a new stake in Society Pass stock. XTX Topco Ltd bought a new stake in Society Pass Incorporated (NASDAQ:SOPA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,671 shares of the company’s stock, valued at approximately $31,000. XTX Topco Ltd owned approximately 0.42% of Society Pass as of its most recent filing with the Securities and Exchange Commission (SEC). 3.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on SOPA shares. Zacks Research raised Society Pass from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 16th. Ascendiant Capital Markets raised their target price on Society Pass from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Society Pass in a report on Tuesday, October 14th. Finally, Wall Street Zen raised Society Pass to a “hold” rating in a report on Saturday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

About Society Pass

Society Pass Incorporated acquires and operates fintech and e-commerce platforms and mobile applications for consumers and merchants in Singapore, Vietnam, Indonesia, Philippines, the United States, Malaysia, Hong Kong, and Thailand. It operates through Online Grocery and Food and Groceries Deliveries, Digital marketing, Online ticketing and reservation, Telecommunications Reseller, e-Commerce, and Merchant Point of Sale segments.