Singularity Future Technology (NASDAQ:SGLY) Issues Earnings Results

Singularity Future Technology (NASDAQ:SGLY) announced its earnings results on Friday. The company reported ($0.12) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $0.15 million for the quarter. Singularity Future Technology had a negative net margin of 766.97% and a negative return on equity of 43.78%.

Singularity Future Technology Price Performance

Shares of SGLY opened at $0.36 on Friday. The company’s fifty day moving average price is $0.59 and its 200-day moving average price is $0.78. The firm has a market capitalization of $1.51 million, a PE ratio of -0.12 and a beta of 1.57. Singularity Future Technology has a 1-year low of $0.35 and a 1-year high of $1.86.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Singularity Future Technology in a report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Singularity Future Technology presently has a consensus rating of “Sell”.

Singularity Future Technology Company Profile

Singularity Future Technology Corp. is a blank check company incorporated in Delaware in March 2021. The company completed its initial public offering that same month and its units began trading on the Nasdaq under the ticker symbol SGLY. It was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other business combination with one or more businesses or entities.

Through its acquisition strategy, Singularity Future Technology seeks to identify high-growth targets in emerging technology sectors such as artificial intelligence, blockchain applications, digital infrastructure and other related fields.