Swvl (NASDAQ:SWVL) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Swvl (NASDAQ:SWVL) from a hold rating to a sell rating in a research note published on Saturday,Wall Street Zen reports.

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

Swvl Stock Up 2.8%

SWVL stock opened at $4.00 on Friday. The company has a fifty day moving average price of $4.29 and a 200-day moving average price of $2.26. Swvl has a 52-week low of $1.30 and a 52-week high of $8.48.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Swvl stock. Citadel Advisors LLC purchased a new position in Swvl Holdings Corp. (NASDAQ:SWVL) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC). 34.03% of the stock is currently owned by hedge funds and other institutional investors.

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.