FingerMotion, Inc. (NASDAQ:FNGR) Stock Short Interest Declines 40.9%

FingerMotion, Inc. (NASDAQ:FNGR) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 6,916,889 shares, a decline of 40.9% from the September 30th total of 11,696,865 shares. Based on an average daily trading volume, of 39,361,746 shares, the days-to-cover ratio is currently 0.2 days. Currently, 9.3% of the company’s shares are short sold.

FingerMotion Stock Down 3.5%

Shares of NASDAQ:FNGR traded down $0.00 during midday trading on Monday, reaching $0.11. 7,853,957 shares of the company were exchanged, compared to its average volume of 13,217,273. The firm has a market cap of $10.00 million, a PE ratio of -0.64 and a beta of -0.49. The stock has a fifty day simple moving average of $0.18 and a two-hundred day simple moving average of $0.66. FingerMotion has a fifty-two week low of $0.09 and a fifty-two week high of $1.68. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.02.

FingerMotion (NASDAQ:FNGR) last posted its quarterly earnings data on Thursday, October 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate of $6.00 million. FingerMotion had a negative return on equity of 74.12% and a negative net margin of 130.45%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of FingerMotion in a report on Friday, September 18th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On FingerMotion

An institutional investor recently raised its position in FingerMotion stock. Platform Technology Partners grew its stake in shares of FingerMotion, Inc. (NASDAQ:FNGR) by 54.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 259,643 shares of the company’s stock after acquiring an additional 92,028 shares during the period. Platform Technology Partners owned 0.42% of FingerMotion worth $258,000 at the end of the most recent quarter. 3.90% of the stock is owned by institutional investors and hedge funds.

FingerMotion Company Profile

FingerMotion, Inc (NASDAQ: FNGR) is a mobile technology and services company focused primarily on the Chinese market. Through its subsidiaries and business partners, the company provides mobile payment and recharge services, telecommunications-related products, and other digital solutions for consumers and businesses.

FingerMotion’s service offerings have included mobile airtime and data recharges, bill-payment services, and messaging solutions. The company has also developed data-related capabilities through its Sapientus platform, which is intended to provide data insights and analytics for commercial applications, including the insurance industry.

In addition, FingerMotion has pursued opportunities in automobile insurance and related services in China.