Short Interest in FingerMotion, Inc. (NASDAQ:FNGR) Declines By 47.5%

FingerMotion, Inc. (NASDAQ:FNGR) saw a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 924,706 shares, a decline of 47.5% from the July 30th total of 1,761,662 shares. Based on an average daily volume of 6,121,965 shares, the days-to-cover ratio is presently 0.2 days. Currently, 1.9% of the shares of the company are sold short.

FingerMotion Price Performance

Shares of FNGR traded up $0.22 on Friday, reaching $0.40. 1,238,287,816 shares of the stock traded hands, compared to its average volume of 11,144,291. The stock’s 50-day moving average price is $0.31 and its 200-day moving average price is $0.74. The firm has a market cap of $24.40 million, a price-to-earnings ratio of -3.32 and a beta of -0.40. FingerMotion has a 12 month low of $0.15 and a 12 month high of $2.20.

FingerMotion (NASDAQ:FNGR) last issued its earnings results on Wednesday, July 15th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The firm had revenue of $0.65 million during the quarter, compared to analysts’ expectations of $6.00 million. FingerMotion had a negative return on equity of 46.67% and a negative net margin of 42.81%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of FingerMotion from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Institutional Trading of FingerMotion

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. WINTON GROUP Ltd acquired a new position in shares of FingerMotion in the 2nd quarter worth approximately $26,000. Qube Research & Technologies Ltd boosted its stake in FingerMotion by 75.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 41,534 shares of the company’s stock valued at $66,000 after buying an additional 17,836 shares in the last quarter. XTX Topco Ltd acquired a new stake in FingerMotion in the 2nd quarter valued at $42,000. Barclays PLC acquired a new stake in FingerMotion in the 4th quarter valued at $37,000. Finally, Envestnet Asset Management Inc. grew its position in FingerMotion by 143.6% in the third quarter. Envestnet Asset Management Inc. now owns 60,029 shares of the company’s stock valued at $95,000 after acquiring an additional 35,388 shares during the period. Institutional investors own 3.90% of the company’s stock.

FingerMotion Company Profile

FingerMotion, Inc is a mobile technology solutions provider focused on delivering affordable smartphones and digital services to emerging markets. The company’s core operations include the design, manufacture, and distribution of mobile devices under its proprietary Spyce brand, offering entry-level and mid-range handsets optimized for performance, security, and ease of use. FingerMotion integrates embedded software applications and firmware enhancements to improve user experience, device management, and after-sales support.

In addition to hardware, FingerMotion has developed a suite of mobile financial services and digital commerce offerings.