Singularity Future Technology (NASDAQ:SGLY) Posts Earnings Results

Singularity Future Technology (NASDAQ:SGLY) released its earnings results on Tuesday. The company reported $1.60 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $0.83 million for the quarter. Singularity Future Technology had a negative return on equity of 42.68% and a negative net margin of 493.25%.

Singularity Future Technology Stock Performance

SGLY opened at $0.77 on Thursday. Singularity Future Technology has a fifty-two week low of $0.75 and a fifty-two week high of $17.64. The company has a fifty day moving average of $2.99 and a two-hundred day moving average of $4.50. The stock has a market capitalization of $2.68 million, a price-to-earnings ratio of -0.03 and a beta of 1.48.

Analyst Ratings Changes

SGLY has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Singularity Future Technology in a research note on Monday, August 3rd. Wall Street Zen raised Singularity Future Technology to a “hold” rating in a report on Saturday, September 12th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Singularity Future Technology currently has an average rating of “Sell”.

About Singularity Future Technology

Singularity Future Technology Limited is a technology company focused primarily on digital-asset mining and related blockchain activities. Its operations have included the deployment and management of cryptocurrency-mining equipment, as well as efforts to develop infrastructure and services supporting blockchain-based businesses.

The company was formerly known as Sino-Global Shipping America, Ltd. and historically provided shipping-related services, including logistics coordination and freight-forwarding support.