FingerMotion (NASDAQ:FNGR) Stock Price Down 6.9% – Here’s Why

FingerMotion, Inc. (NASDAQ:FNGR)’s share price traded down 6.9% on Wednesday . The company traded as low as $1.2001 and last traded at $1.2050. 154,968 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 229,132 shares. The stock had previously closed at $1.2950.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of FingerMotion in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, FingerMotion presently has a consensus rating of “Sell”.

FingerMotion Price Performance

The stock has a 50-day moving average price of $1.32 and a 200-day moving average price of $1.48. The company has a market capitalization of $73.84 million, a P/E ratio of -12.05 and a beta of -0.78.

FingerMotion (NASDAQ:FNGR) last announced its earnings results on Wednesday, January 14th. The company reported ($0.03) EPS for the quarter. The company had revenue of $5.80 million during the quarter. FingerMotion had a negative net margin of 16.08% and a negative return on equity of 34.78%.

Institutional Investors Weigh In On FingerMotion

Large investors have recently modified their holdings of the company. WINTON GROUP Ltd acquired a new position in FingerMotion in the second quarter valued at $26,000. XTX Topco Ltd bought a new position in shares of FingerMotion in the 2nd quarter worth about $42,000. Qube Research & Technologies Ltd raised its position in shares of 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 acquiring an additional 17,836 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of FingerMotion by 143.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 60,029 shares of the company’s stock valued at $95,000 after purchasing an additional 35,388 shares during the period. 3.90% of the stock is currently owned by institutional investors and hedge funds.

About FingerMotion

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.