Mogo (NASDAQ:MOGO) Stock Price Down 1.8% – Here’s Why

Mogo Inc (NASDAQ:MOGO) shares dropped 1.8% during mid-day trading on Friday . The company traded as low as $1.10 and last traded at $1.10. Approximately 20,287 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 120,923 shares. The stock had previously closed at $1.12.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Mogo in a report on Monday, December 29th. Wall Street Zen lowered shares of Mogo from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $4.00.

Mogo Stock Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.64. The business has a fifty day simple moving average of $1.14 and a 200 day simple moving average of $1.46. The stock has a market capitalization of $26.61 million, a price-to-earnings ratio of 4.83 and a beta of 2.71.

Institutional Trading of Mogo

Several hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd acquired a new position in shares of Mogo during the 4th quarter worth approximately $25,000. Goldman Sachs Group Inc. grew its position in Mogo by 80.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 214,100 shares of the company’s stock worth $229,000 after buying an additional 95,248 shares in the last quarter. Baader Bank Aktiengesellschaft bought a new position in Mogo during the 4th quarter worth $26,000. Centiva Capital LP acquired a new position in Mogo in the 3rd quarter valued at $30,000. Finally, Two Sigma Investments LP bought a new stake in shares of Mogo during the 3rd quarter valued at $220,000. Institutional investors and hedge funds own 14.79% of the company’s stock.

About Mogo

Mogo Inc is a Vancouver-based financial technology company that offers a suite of digital banking and personal finance products through a mobile-first platform. The firm’s core mission is to empower consumers with tools to manage their money, monitor their credit, and guard against identity fraud, all delivered via a unified smartphone application. By integrating multiple financial services into one interface, Mogo aims to simplify day-to-day money management and foster healthier financial habits among its members.

The company’s flagship offering is a prepaid Visa card that links directly to its app, enabling users to track spending in real time without the risk of overdraft fees associated with traditional credit cards.