FingerMotion, Inc. (NASDAQ:FNGR) Shares Shorted: Short Interest Down 57.8% in September

FingerMotion, Inc. (NASDAQ:FNGR) was the recipient of a large drop in short interest in September. As of September 15th, there was short interest totaling 3,694,448 shares, a drop of 57.8% from the August 31st total of 8,754,925 shares. Based on an average trading volume of 8,263,058 shares, the short-interest ratio is presently 0.4 days. Approximately 6.3% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of FingerMotion in a report on Friday, September 18th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in FingerMotion stock. Platform Technology Partners boosted its position in FingerMotion, Inc. (NASDAQ:FNGR) by 54.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 259,643 shares of the company’s stock after purchasing an additional 92,028 shares during the quarter. Platform Technology Partners owned approximately 0.42% of FingerMotion worth $258,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 3.90% of the company’s stock.

FingerMotion Stock Down 6.2%

Shares of FingerMotion stock traded down $0.01 on Monday, hitting $0.14. The stock had a trading volume of 3,857,731 shares, compared to its average volume of 9,957,668. The stock’s 50-day simple moving average is $0.23 and its two-hundred day simple moving average is $0.60. FingerMotion has a one year low of $0.13 and a one year high of $2.20. The stock has a market cap of $10.25 million, a price-to-earnings ratio of -1.18 and a beta of -0.37.

FingerMotion (NASDAQ:FNGR) last issued its quarterly earnings data on Wednesday, July 15th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $0.65 million during the quarter, compared to the consensus estimate of $6.00 million. FingerMotion had a negative net margin of 42.81% and a negative return on equity of 46.67%.

About FingerMotion

FingerMotion, Inc (NASDAQ: FNGR) is a mobile technology and services company focused primarily on the Chinese market. The company provides telecommunications products and services through carrier-related offerings, including mobile messaging, mobile top-up services, subscription plans and other solutions designed to support mobile users and businesses.

FingerMotion also develops data-driven technology through its Sapientus platform. Sapientus is designed to collect and analyze large amounts of data to help insurance companies and other organizations evaluate risk, improve customer engagement and develop more informed business and underwriting strategies.

The company was established in the 2010s and has built its operations around mobile communications, digital services and big-data applications in China, while maintaining a corporate presence in the United States.