Singularity Future Technology (NASDAQ:SGLY) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Singularity Future Technology (NASDAQ:SGLY) from a hold rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Singularity Future Technology in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Singularity Future Technology Stock Performance

Shares of NASDAQ:SGLY opened at $0.42 on Friday. The business has a fifty day moving average price of $1.02 and a two-hundred day moving average price of $4.52. Singularity Future Technology has a 1 year low of $0.30 and a 1 year high of $14.28.

Singularity Future Technology (NASDAQ:SGLY) last announced its 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). The business had revenue of $0.83 million for the quarter, compared to analysts’ expectations of $11.30 million. Singularity Future Technology had a negative net margin of 347.46% and a negative return on equity of 35.44%.

About Singularity Future Technology

Singularity Future Technology Ltd. (NASDAQ: SGLY) is a technology company focused on blockchain infrastructure and digital asset-related services. Its activities have included the sale and deployment of cryptocurrency mining equipment, mining-machine hosting, and related technical and operational support.

The company has also pursued cryptocurrency mining and data-center initiatives, working to provide infrastructure for digital-asset mining operations. Its services may include equipment procurement, hosting arrangements, facility management and other support associated with blockchain computing.

Singularity Future Technology was formerly known as Sino-Global Shipping America Ltd., a company that provided shipping agency and logistics services.