Singularity Future Technology (NASDAQ:SGLY) Rating Lowered to “Sell” at Wall Street Zen

Singularity Future Technology (NASDAQ:SGLY) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Singularity Future Technology in a report on Monday, August 3rd. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, Singularity Future Technology presently has an average rating of “Sell”.

Singularity Future Technology Price Performance

NASDAQ SGLY opened at $0.51 on Friday. The business has a fifty day moving average of $1.07 and a 200-day moving average of $4.57. Singularity Future Technology has a fifty-two week low of $0.30 and a fifty-two week high of $14.28. The stock has a market cap of $1.78 million, a price-to-earnings ratio of -0.02 and a beta of 1.37.

Singularity Future Technology (NASDAQ:SGLY) last issued its quarterly earnings data on Tuesday, October 13th. The company reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $7.00 by ($5.40). The company had revenue of $0.83 million for the quarter, compared to analyst estimates of $11.30 million. Singularity Future Technology had a negative return on equity of 35.44% and a negative net margin of 347.46%.

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.