FingerMotion, Inc. (NASDAQ:FNGR) Stock Short Interest Falls 40.9%

FingerMotion, Inc. (NASDAQ:FNGR) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 6,916,889 shares, a decrease of 40.9% from the September 30th total of 11,696,865 shares. Currently, 9.3% of the shares of the company are short sold. Based on an average daily volume of 39,361,746 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of FingerMotion in a research report on Friday, September 18th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

FingerMotion Stock Down 21.0%

Shares of FNGR stock traded down $0.03 during trading hours on Friday, hitting $0.11. 48,884,769 shares of the company were exchanged, compared to its average volume of 22,397,404. FingerMotion has a one year low of $0.10 and a one year high of $1.68. The business’s 50-day simple moving average is $0.18 and its two-hundred day simple moving average is $0.66. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.03 and a current ratio of 1.04. The stock has a market capitalization of $10.35 million, a price-to-earnings ratio of -0.66 and a beta of -0.33.

FingerMotion (NASDAQ:FNGR) last posted its earnings results on Thursday, October 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). FingerMotion had a negative net margin of 130.45% and a negative return on equity of 74.12%. The firm had revenue of $0.28 million for the quarter, compared to analyst estimates of $6.00 million.

Institutional Investors Weigh In On FingerMotion

An institutional investor recently raised its position in FingerMotion stock. Platform Technology Partners raised its stake in FingerMotion, Inc. (NASDAQ:FNGR) by 54.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 259,643 shares of the company’s stock after purchasing an additional 92,028 shares during the quarter. Platform Technology Partners owned approximately 0.42% of FingerMotion worth $258,000 at the end of the most recent reporting period. 3.90% of the stock is currently owned by institutional investors.

FingerMotion Company Profile

FingerMotion, Inc (NASDAQ: FNGR) is a mobile technology and services company focused primarily on the Chinese market. Through its subsidiaries and business partners, the company provides mobile payment and recharge services, telecommunications-related products, and other digital solutions for consumers and businesses.

FingerMotion’s service offerings have included mobile airtime and data recharges, bill-payment services, and messaging solutions. The company has also developed data-related capabilities through its Sapientus platform, which is intended to provide data insights and analytics for commercial applications, including the insurance industry.

In addition, FingerMotion has pursued opportunities in automobile insurance and related services in China.