Mogo Inc. (NASDAQ:MOGO) Sees Significant Drop in Short Interest

Mogo Inc. (NASDAQ:MOGO) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 94,200 shares, a decline of 12.9% from the February 28th total of 108,200 shares. Based on an average daily volume of 64,800 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.4% of the company’s stock are sold short.

Mogo Stock Down 2.8 %

Shares of Mogo stock traded down $0.03 during trading on Thursday, reaching $0.87. The stock had a trading volume of 26,548 shares, compared to its average volume of 65,586. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $21.17 million, a price-to-earnings ratio of -1.84 and a beta of 3.05. Mogo has a 52 week low of $0.84 and a 52 week high of $2.07. The stock has a fifty day moving average price of $1.09 and a two-hundred day moving average price of $1.20.

Analyst Ratings Changes

Separately, HC Wainwright cut their price target on shares of Mogo from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, March 21st.

Institutional Trading of Mogo

A number of institutional investors have recently made changes to their positions in the business. AMH Equity Ltd acquired a new position in shares of Mogo during the 4th quarter worth about $333,000. Tidal Investments LLC increased its position in shares of Mogo by 7.7% during the 4th quarter. Tidal Investments LLC now owns 1,330,643 shares of the company’s stock worth $1,810,000 after purchasing an additional 94,856 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Mogo by 130.1% in the 4th quarter. Renaissance Technologies LLC now owns 81,077 shares of the company’s stock valued at $110,000 after buying an additional 45,842 shares during the last quarter. Institutional investors own 14.79% of the company’s stock.

Mogo Company Profile

Mogo Inc operates as a digital finance company in Canada, Europe, and internationally. The company's digital solutions help build wealth and achieve financial freedom. It provides MogoTrade, a stock trading app; Moka; and MogoMoney that provides online personal loans. The company also offers digital loans and mortgages; and operates a digital payments platform that powers next-generation card programs for both global corporations and fintech companies in Europe and Canada.