Simpple (NASDAQ:SPPL) Shares Down 1.7% – Here’s Why

Simpple Ltd. (NASDAQ:SPPL)’s stock price was down 1.7% on Thursday . The company traded as low as $3.10 and last traded at $3.37. Approximately 2,418 shares traded hands during trading, a decline of 62% from the average daily volume of 6,314 shares. The stock had previously closed at $3.43.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Simpple in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Simpple Trading Down 1.7%

The company has a fifty day moving average price of $4.50 and a 200-day moving average price of $4.23.

Hedge Funds Weigh In On Simpple

An institutional investor recently bought a new position in Simpple stock. Connective Capital Management LLC bought a new position in Simpple Ltd. (NASDAQ:SPPL) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 7,862 shares of the company’s stock, valued at approximately $46,000. Connective Capital Management LLC owned about 0.16% of Simpple as of its most recent SEC filing. Hedge funds and other institutional investors own 0.01% of the company’s stock.

About Simpple

Simpple Ltd. provides advanced technology solutions in Singapore. The company engages in the sale, warranty, and maintenance of autonomous robotic cleaning equipment. It also offers SIMPPLE Ecosystem platform includes SIMPPLE Software, a software platform comprising modules related to quality management, workflow management, and people management; SIMPPLE PLUS, which offers complimentary peripherals, such as IoT sensors and robotic solutions that add value to the entire ecosystem that the company distributes, sells, and manages; and SIMPPLE.AI, a next generation facilities management autonomic intelligence engine that automates robotic and human workforce deployments.