Singularity Future Technology Ltd. (NASDAQ:SGLY) Sees Significant Decline in Short Interest

Singularity Future Technology Ltd. (NASDAQ:SGLY) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 13,211 shares, a decrease of 52.9% from the September 15th total of 28,021 shares. Based on an average daily volume of 155,972 shares, the short-interest ratio is presently 0.1 days. Currently, 0.4% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SGLY. Wall Street Zen raised shares of Singularity Future Technology from a “sell” rating to a “hold” rating in a research note on Sunday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Singularity Future Technology in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Singularity Future Technology Stock Performance

Shares of SGLY traded down $0.05 during mid-day trading on Thursday, hitting $0.57. 72,012 shares of the stock were exchanged, compared to its average volume of 480,597. The company has a market cap of $1.99 million, a PE ratio of -0.02 and a beta of 1.45. Singularity Future Technology has a 52-week low of $0.55 and a 52-week high of $14.28. The firm has a 50-day moving average of $2.17 and a two-hundred day moving average of $4.17.

Singularity Future Technology (NASDAQ:SGLY) last announced its quarterly earnings results on Tuesday, October 13th. The company reported $1.60 EPS for the quarter, missing the consensus estimate of $7.00 by ($5.40). Singularity Future Technology had a negative net margin of 347.46% and a negative return on equity of 35.44%. The firm had revenue of $0.83 million for the quarter, compared to analysts’ expectations of $11.30 million.

About Singularity Future Technology

Singularity Future Technology Ltd., formerly known as Sino-Global Shipping America Ltd., is a logistics and supply chain services company. Its traditional business has included shipping agency services, freight forwarding, container trucking, warehousing coordination and related transportation support for cargo moving through international trade routes.

The company has historically served customers involved in global shipping, with operations and business relationships connected to the United States and China.