FingerMotion (NASDAQ:FNGR) Trading Down 4.5% – Time to Sell?

FingerMotion, Inc. (NASDAQ:FNGR)’s stock price was down 4.5% during mid-day trading on Wednesday . The company traded as low as $1.27 and last traded at $1.28. Approximately 171,282 shares traded hands during mid-day trading, a decline of 10% from the average daily volume of 190,109 shares. The stock had previously closed at $1.34.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of FingerMotion in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

FingerMotion Stock Down 4.5%

The firm has a 50 day moving average of $1.39 and a 200 day moving average of $1.58. The firm has a market cap of $78.12 million, a PE ratio of -12.80 and a beta of -0.83.

FingerMotion (NASDAQ:FNGR) last released its earnings results on Tuesday, October 14th. The company reported ($0.03) earnings per share (EPS) for the quarter. The firm had revenue of $8.65 million during the quarter. FingerMotion had a negative return on equity of 39.03% and a negative net margin of 14.82%.

Institutional Investors Weigh In On FingerMotion

Several institutional investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd bought a new position in FingerMotion during the second quarter worth about $26,000. Client 1ST Advisory Group LLC bought a new stake in shares of FingerMotion in the second quarter valued at approximately $29,000. XTX Topco Ltd purchased a new stake in shares of FingerMotion during the 2nd quarter valued at approximately $42,000. Qube Research & Technologies Ltd boosted its holdings in FingerMotion by 75.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 41,534 shares of the company’s stock worth $66,000 after buying an additional 17,836 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in FingerMotion by 143.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 60,029 shares of the company’s stock worth $95,000 after buying an additional 35,388 shares during the period. 3.90% of the stock is owned by hedge funds and other institutional investors.

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.