Singularity Future Technology Ltd. (NASDAQ:SGLY) Stock Short Interest Report for October

Singularity Future Technology Ltd. (NASDAQ:SGLY) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 46,105 shares, a growth of 249.0% from the September 30th total of 13,211 shares. Based on an average trading volume of 824,833 shares, the days-to-cover ratio is presently 0.1 days. Currently, 1.5% of the company’s shares are short sold.

Singularity Future Technology Stock Up 15.8%

SGLY traded up $0.05 during midday trading on Wednesday, hitting $0.37. The company had a trading volume of 36,521 shares, compared to its average volume of 461,861. The stock’s 50 day moving average price is $1.24 and its 200 day moving average price is $4.72. The company has a market capitalization of $1.30 million, a price-to-earnings ratio of -0.02 and a beta of 1.45. Singularity Future Technology has a 52 week low of $0.30 and a 52 week high of $14.28.

Singularity Future Technology (NASDAQ:SGLY) last issued its quarterly earnings data on Tuesday, October 13th. The company reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.00 by ($5.40). The firm had revenue of $0.83 million for the quarter, compared to analysts’ expectations of $11.30 million.

Wall Street Analysts Forecast Growth

SGLY has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Singularity Future Technology in a report on Monday, August 3rd. Wall Street Zen raised shares of Singularity Future Technology from a “sell” rating to a “hold” rating in a research note on Sunday, October 11th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

About Singularity Future Technology

Singularity Future Technology Ltd. (NASDAQ: SGLY) is a technology company focused on blockchain infrastructure and digital asset-related services. Its activities have included the sale and deployment of cryptocurrency mining equipment, mining-machine hosting, and related technical and operational support.

The company has also pursued cryptocurrency mining and data-center initiatives, working to provide infrastructure for digital-asset mining operations. Its services may include equipment procurement, hosting arrangements, facility management and other support associated with blockchain computing.

Singularity Future Technology was formerly known as Sino-Global Shipping America Ltd., a company that provided shipping agency and logistics services.