Treasure Global (NASDAQ:TGL) Trading Up 9.4% – Still a Buy?

Treasure Global Inc. (NASDAQ:TGL)’s stock price was up 9.4% during trading on Wednesday . The company traded as high as $3.29 and last traded at $2.92. 5,791,143 shares changed hands during mid-day trading, an increase of 1,932% from the average daily volume of 285,025 shares. The stock had previously closed at $2.67.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Treasure Global in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Treasure Global currently has a consensus rating of “Sell”.

Treasure Global Stock Down 22.2%

The firm’s 50 day moving average is $3.51 and its two-hundred day moving average is $3.98. The stock has a market cap of $4.37 million, a price-to-earnings ratio of -0.01 and a beta of 2.94.

Treasure Global (NASDAQ:TGL) last announced its quarterly earnings results on Wednesday, May 20th. The company reported ($2.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($11,200.00) by $11,197.30. The business had revenue of $1.50 million for the quarter, compared to analysts’ expectations of $14.26 million. Treasure Global had a negative return on equity of 94.34% and a negative net margin of 791.30%.

Institutional Investors Weigh In On Treasure Global

An institutional investor recently bought a new stake in Treasure Global stock. Schonfeld Strategic Advisors LLC purchased a new stake in Treasure Global Inc. (NASDAQ:TGL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,303 shares of the company’s stock, valued at approximately $118,000. Schonfeld Strategic Advisors LLC owned approximately 1.15% of Treasure Global as of its most recent filing with the Securities and Exchange Commission.

About Treasure Global

Treasure Global Inc offers e-commerce activities through its platform. Its platform provides consumers and merchants instant rebates and affiliate cashback programs, while providing a seamless e-payment solution with rebates in both e-commerce and physical retailers/merchant settings. The company offers ZCITY App, a payment gateway platform. Treasure Global Inc was incorporated in 2020 and is based in New York, New York.