Singularity Future Technology (NASDAQ:SGLY) Releases Earnings Results, Misses Expectations By $5.40 EPS

Singularity Future Technology (NASDAQ:SGLY) posted its earnings results on Tuesday. The company reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $7.00 by ($5.40), FiscalAI reports. The firm had revenue of $0.83 million for the quarter, compared to analysts’ expectations of $11.30 million. Singularity Future Technology had a negative return on equity of 35.44% and a negative net margin of 347.46%.

Singularity Future Technology Trading Down 2.2%

Shares of NASDAQ:SGLY opened at $0.70 on Tuesday. The firm has a market cap of $2.47 million, a P/E ratio of -0.03 and a beta of 1.45. Singularity Future Technology has a twelve month low of $0.66 and a twelve month high of $14.28. The company has a 50 day moving average of $2.41 and a 200-day moving average of $4.24.

Wall Street Analyst Weigh In

SGLY has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Singularity Future Technology in a research report on Monday, August 3rd. Wall Street Zen raised shares of Singularity Future Technology from a “sell” rating to a “hold” rating in a report on Sunday. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Singularity Future Technology Company Profile

Singularity Future Technology Ltd., formerly known as Sino-Global Shipping America Ltd., is a logistics and supply chain services company. Its traditional business has included shipping agency services, freight forwarding, container trucking, warehousing coordination and related transportation support for cargo moving through international trade routes.

The company has historically served customers involved in global shipping, with operations and business relationships connected to the United States and China.