Singularity Future Technology Ltd. (NASDAQ:SGLY) Stock Short Interest Falls 52.9%

Singularity Future Technology Ltd. (NASDAQ:SGLY) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 13,211 shares, a decrease of 52.9% from the September 15th total of 28,021 shares. Based on an average daily trading volume, of 155,972 shares, the short-interest ratio is currently 0.1 days. Approximately 0.4% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SGLY shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Singularity Future Technology in a research note on Monday, August 3rd. Wall Street Zen upgraded shares of Singularity Future Technology from a “sell” rating to a “hold” rating in a research note on Sunday, October 11th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Singularity Future Technology Stock Down 2.8%

Shares of NASDAQ SGLY traded down $0.02 during mid-day trading on Friday, reaching $0.55. 34,389 shares of the company were exchanged, compared to its average volume of 478,375. The stock has a market capitalization of $1.94 million, a PE ratio of -0.02 and a beta of 1.45. Singularity Future Technology has a 52 week low of $0.55 and a 52 week high of $14.28. The company’s 50 day moving average price is $2.05 and its 200 day moving average price is $4.14.

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

About Singularity Future Technology

Singularity Future Technology Ltd., formerly known as Sino-Global Shipping America Ltd., is a logistics and supply chain services company. Its traditional business has included shipping agency services, freight forwarding, container trucking, warehousing coordination and related transportation support for cargo moving through international trade routes.

The company has historically served customers involved in global shipping, with operations and business relationships connected to the United States and China.