Swvl (NASDAQ:SWVL) Raised to “Hold” at Wall Street Zen

Swvl (NASDAQ:SWVL) was upgraded by equities researchers at Wall Street Zen to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings cut shares of Swvl from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Swvl Stock Performance

NASDAQ SWVL opened at $3.75 on Friday. Swvl has a 12 month low of $1.30 and a 12 month high of $8.48. The company’s fifty day moving average price is $3.90 and its two-hundred day moving average price is $2.36.

Swvl (NASDAQ:SWVL) last announced its quarterly earnings data on Thursday, October 8th. The company reported ($0.04) earnings per share for the quarter. The business had revenue of $7.99 million for the quarter.

Institutional Investors Weigh In On Swvl

An institutional investor recently bought a new position in Swvl stock. Citadel Advisors LLC purchased a new stake in shares of Swvl Holdings Corp. (NASDAQ:SWVL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 64,772 shares of the company’s stock, valued at approximately $87,000. Citadel Advisors LLC owned approximately 0.65% of Swvl at the end of the most recent quarter. 34.03% of the stock is currently owned by institutional investors and hedge funds.

About Swvl

Swvl Holdings Corp. (NASDAQ: SWVL) is a technology company that provides app-based transportation and mobility solutions. Its platform connects passengers with scheduled or on-demand shared rides, including bus and van services, with the goal of improving access to affordable and efficient urban transportation.

Founded in Egypt in 2017 by Mostafa Kandil, Swvl initially focused on solving public transportation challenges in emerging markets through digitally booked bus routes. The company has also developed mobility services for businesses, schools, and government entities, including employee transportation, student transport, and transit-management solutions.

Swvl has operated in multiple markets across the Middle East, Africa, and Asia, including Egypt, the United Arab Emirates, Saudi Arabia, Jordan, and Pakistan.