FingerMotion (NASDAQ:FNGR) Issues Earnings Results, Beats Expectations By $0.02 EPS

FingerMotion (NASDAQ:FNGR) released its quarterly earnings results on Wednesday. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02, Zacks reports. FingerMotion had a negative net margin of 29.00% and a negative return on equity of 44.60%.

FingerMotion Stock Down 1.4%

Shares of FingerMotion stock traded down $0.01 during mid-day trading on Wednesday, reaching $0.36. 125,915 shares of the stock traded hands, compared to its average volume of 450,450. The stock has a market capitalization of $21.88 million, a PE ratio of -2.75 and a beta of -0.44. The business has a 50-day moving average of $0.62 and a 200 day moving average of $0.96. FingerMotion has a fifty-two week low of $0.30 and a fifty-two week high of $2.35.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in FingerMotion during the 4th quarter worth $34,000. Barclays PLC acquired a new stake in shares of FingerMotion in the fourth quarter valued at about $37,000. Goldman Sachs Group Inc. purchased a new position in shares of FingerMotion in the fourth quarter worth about $85,000. Qube Research & Technologies Ltd boosted its position in FingerMotion by 75.3% during the third 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 during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in FingerMotion by 143.6% during the third quarter. Envestnet Asset Management Inc. now owns 60,029 shares of the company’s stock worth $95,000 after acquiring an additional 35,388 shares during the last quarter. 3.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of FingerMotion from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, FingerMotion presently has a consensus rating of “Sell”.

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.