Society Pass Incorporated (NASDAQ:SOPA) Short Interest Down 16.7% in March

Society Pass Incorporated (NASDAQ:SOPA) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totaling 87,288 shares, a decrease of 16.7% from the March 15th total of 104,804 shares. Based on an average daily volume of 302,527 shares, the short-interest ratio is presently 0.3 days. Currently, 1.2% of the company’s stock are sold short.

Hedge Funds Weigh In On Society Pass

A number of large investors have recently added to or reduced their stakes in the business. Connective Capital Management LLC purchased a new position in Society Pass in the 4th quarter worth $282,000. HRT Financial LP bought a new stake in Society Pass in the 4th quarter worth $350,000. Geode Capital Management LLC grew its holdings in Society Pass by 43.3% in the 4th quarter. Geode Capital Management LLC now owns 48,129 shares of the company’s stock worth $183,000 after acquiring an additional 14,547 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Society Pass during the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 3.09% of the company’s stock.

Society Pass Price Performance

NASDAQ SOPA opened at $0.49 on Thursday. The company’s 50 day simple moving average is $0.67 and its two-hundred day simple moving average is $1.63. The stock has a market capitalization of $3.74 million, a PE ratio of -0.21 and a beta of 2.01. Society Pass has a 1 year low of $0.32 and a 1 year high of $6.28.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SOPA shares. Ascendiant Capital Markets upped their price objective on shares of Society Pass from $22.00 to $22.50 and gave the company a “buy” rating in a report on Thursday, December 18th. Wall Street Zen downgraded shares of Society Pass to a “strong sell” rating in a research report on Saturday, December 20th. Zacks Research raised shares of Society Pass from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Greenridge Global upgraded shares of Society Pass to a “strong-buy” rating in a research note on Monday, December 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Society Pass in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Society Pass currently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

About Society Pass

Society Pass Inc is a commerce-as-a-service holding company focused on creating and operating an omni-channel loyalty and rewards platform that connects consumers with a diversified portfolio of e-commerce marketplaces and digital services. Through its proprietary technology, the company enables users to earn and redeem loyalty points across various online and offline merchants, fostering repeat engagement for retail, travel, dining and entertainment partners. Society Pass’s model emphasizes the aggregation of customer data, personalized promotions and co-marketing programs to drive sales and brand awareness for its partner network.

The company’s core offerings include an e-commerce marketplace that spans categories such as consumer electronics, health and beauty, groceries, and lifestyle products.