MoneyHero (NASDAQ:MNY) Shares Down 2.2% – Here’s Why

MoneyHero Limited (NASDAQ:MNY)’s share price traded down 2.2% on Monday . The stock traded as low as $0.8596 and last traded at $0.87. 4,616 shares were traded during mid-day trading, a decline of 65% from the average session volume of 13,038 shares. The stock had previously closed at $0.8899.

Analyst Ratings Changes

Separately, Weiss Ratings raised MoneyHero from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

MoneyHero Stock Performance

The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $38.13 million, a P/E ratio of -2.90 and a beta of 1.24. The business’s 50 day simple moving average is $0.93 and its two-hundred day simple moving average is $1.20.

MoneyHero (NASDAQ:MNY) last issued its earnings results on Wednesday, June 24th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.05). MoneyHero had a negative return on equity of 16.25% and a negative net margin of 12.53%.The firm had revenue of $16.52 million during the quarter, compared to the consensus estimate of $16.18 million. Sell-side analysts anticipate that MoneyHero Limited will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On MoneyHero

A hedge fund recently raised its stake in MoneyHero stock. Renaissance Technologies LLC raised its holdings in shares of MoneyHero Limited (NASDAQ:MNY) by 20.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 124,611 shares of the company’s stock after purchasing an additional 21,500 shares during the period. Renaissance Technologies LLC owned approximately 0.30% of MoneyHero worth $157,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 30.86% of the company’s stock.

About MoneyHero

MoneyHero Group Ltd (NASDAQ: MNY) operates an online comparison marketplace that helps consumers research, compare and select a broad array of financial and lifestyle products. Through its digital platform, MoneyHero presents side-by-side comparisons for credit cards, personal loans, mortgages, various insurance policies, broadband and mobile plans, as well as utility services. The site features interactive tools such as personalized calculators, user reviews and curated offer alerts, designed to simplify complex product information and enhance consumer decision making.

Founded in Hong Kong in 2014, MoneyHero has expanded its presence to serve customers in Singapore and Malaysia.