Mogo (NASDAQ:MOGO) Trading Down 2.2%

Mogo Inc. (NASDAQ:MOGO)’s share price traded down 2.2% during trading on Friday . The company traded as low as $1.81 and last traded at $1.81. 59,842 shares were traded during trading, a decline of 17% from the average session volume of 72,069 shares. The stock had previously closed at $1.85.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $8.00 price objective on shares of Mogo in a research report on Thursday, March 21st.

Mogo Stock Performance

The stock’s 50 day moving average price is $1.91 and its two-hundred day moving average price is $1.67. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.61 and a current ratio of 1.71.

Mogo (NASDAQ:MOGO) last released its quarterly earnings results on Wednesday, March 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.01. The company had revenue of $12.60 million for the quarter, compared to analysts’ expectations of $11.24 million. Mogo had a negative net margin of 27.68% and a negative return on equity of 14.98%. As a group, equities research analysts expect that Mogo Inc. will post -0.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mogo

A number of institutional investors have recently added to or reduced their stakes in MOGO. Raymond James Financial Services Advisors Inc. increased its position in shares of Mogo by 18.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 70,505 shares of the company’s stock worth $205,000 after purchasing an additional 11,118 shares during the last quarter. Cibc World Market Inc. increased its position in shares of Mogo by 93.3% in the 1st quarter. Cibc World Market Inc. now owns 21,775 shares of the company’s stock worth $63,000 after purchasing an additional 10,511 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Mogo by 64.9% in the 1st quarter. Mackenzie Financial Corp now owns 24,516 shares of the company’s stock worth $72,000 after purchasing an additional 9,653 shares during the last quarter. First Trust Advisors LP increased its position in shares of Mogo by 47.2% in the 1st quarter. First Trust Advisors LP now owns 265,269 shares of the company’s stock worth $772,000 after purchasing an additional 85,022 shares during the last quarter. Finally, Mariner LLC increased its position in shares of Mogo by 343.2% in the 1st quarter. Mariner LLC now owns 454,221 shares of the company’s stock worth $1,322,000 after purchasing an additional 351,729 shares during the last quarter. Institutional investors and hedge funds own 14.79% of the company’s stock.

About Mogo

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.