Society Pass Incorporated (NASDAQ:SOPA) Sees Large Growth in Short Interest

Society Pass Incorporated (NASDAQ:SOPA) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 203,500 shares, a growth of 167.8% from the August 15th total of 76,000 shares. Currently, 9.6% of the shares of the stock are sold short. Based on an average daily volume of 317,700 shares, the days-to-cover ratio is presently 0.6 days.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets decreased their price target on Society Pass from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd.

Society Pass Stock Performance

SOPA stock remained flat at $0.77 during midday trading on Friday. The company had a trading volume of 32,458 shares, compared to its average volume of 158,594. The stock’s 50-day moving average price is $1.18 and its 200-day moving average price is $1.70. The stock has a market cap of $2.43 million, a price-to-earnings ratio of -0.10 and a beta of 1.19. Society Pass has a 12 month low of $0.73 and a 12 month high of $7.48.

Society Pass (NASDAQ:SOPA) last issued its earnings results on Monday, August 19th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.84) by $0.11. Society Pass had a negative net margin of 190.69% and a negative return on equity of 281.27%. The firm had revenue of $1.71 million for the quarter, compared to the consensus estimate of $2.33 million. Equities research analysts expect that Society Pass will post -2.76 EPS for the current year.

Society Pass Company Profile

Society Pass Incorporated acquires and operates fintech and e-commerce platforms and mobile applications for consumers and merchants in Singapore, Vietnam, Indonesia, Philippines, the United States, Malaysia, Hong Kong, and Thailand. It operates through Online Grocery and Food and Groceries Deliveries, Digital marketing, Online ticketing and reservation, Telecommunications Reseller, e-Commerce, and Merchant Point of Sale segments.