Singularity Future Technology (NASDAQ:SGLY) Stock Rating Lowered by Wall Street Zen

Singularity Future Technology (NASDAQ:SGLY) was downgraded by 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 reaffirmed a “sell (e+)” rating on shares of Singularity Future Technology in a research note on Monday, August 3rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Singularity Future Technology Stock Performance

Shares of SGLY opened at $0.73 on Friday. The stock has a market cap of $2.56 million, a P/E ratio of -0.03 and a beta of 1.45. The company has a 50-day moving average of $2.88 and a two-hundred day moving average of $4.44. Singularity Future Technology has a 12-month low of $0.72 and a 12-month high of $16.38.

About Singularity Future Technology

Singularity Future Technology Limited is a technology company focused primarily on digital-asset mining and related blockchain activities. Its operations have included the deployment and management of cryptocurrency-mining equipment, as well as efforts to develop infrastructure and services supporting blockchain-based businesses.

The company was formerly known as Sino-Global Shipping America, Ltd. and historically provided shipping-related services, including logistics coordination and freight-forwarding support.