FingerMotion (NASDAQ:FNGR) Posts Quarterly Earnings Results, Meets Expectations

FingerMotion (NASDAQ:FNGR) announced its quarterly earnings results on Friday. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03), FiscalAI reports. The company had revenue of $1.23 million for the quarter, compared to analyst estimates of $6.00 million. FingerMotion had a negative net margin of 16.08% and a negative return on equity of 34.78%.

FingerMotion Price Performance

Shares of FingerMotion stock traded down $0.01 during trading on Friday, reaching $0.77. 122,723 shares of the company traded hands, compared to its average volume of 224,042. FingerMotion has a 1-year low of $0.75 and a 1-year high of $3.23. The company has a 50 day moving average price of $0.95 and a 200-day moving average price of $1.17. The firm has a market capitalization of $47.19 million, a PE ratio of -7.70 and a beta of -0.46.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of FNGR. Goldman Sachs Group Inc. acquired a new position in shares of FingerMotion during the 4th quarter valued at $85,000. Envestnet Asset Management Inc. lifted its position in shares of FingerMotion by 143.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 60,029 shares of the company’s stock valued at $95,000 after acquiring an additional 35,388 shares during the period. Barclays PLC acquired a new position in shares of FingerMotion during the 4th quarter valued at $37,000. XTX Topco Ltd acquired a new position in shares of FingerMotion during the 4th quarter valued at $34,000. Finally, Qube Research & Technologies Ltd lifted its position in shares of FingerMotion by 75.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 41,534 shares of the company’s stock valued at $66,000 after acquiring an additional 17,836 shares during the period. Institutional investors and hedge funds own 3.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of FingerMotion from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, FingerMotion has a consensus rating of “Sell”.

FingerMotion Company Profile

FingerMotion, Inc is a mobile technology solutions provider focused on delivering affordable smartphones and digital services to emerging markets. The company’s core operations include the design, manufacture, and distribution of mobile devices under its proprietary Spyce brand, offering entry-level and mid-range handsets optimized for performance, security, and ease of use. FingerMotion integrates embedded software applications and firmware enhancements to improve user experience, device management, and after-sales support.

In addition to hardware, FingerMotion has developed a suite of mobile financial services and digital commerce offerings.