Society Pass Incorporated (NASDAQ:SOPA) Short Interest Down 53.9% in March

Society Pass Incorporated (NASDAQ:SOPA) was the target of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 44,100 shares, a drop of 53.9% from the February 28th total of 95,700 shares. Based on an average daily trading volume, of 3,350,000 shares, the days-to-cover ratio is presently 0.0 days. Currently, 1.4% of the company’s stock are short sold.

Insider Activity at Society Pass

In other Society Pass news, Director Michael Paul Dunn, Jr. bought 12,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was acquired at an average price of $28,920.00 per share, with a total value of $347,040,000.00. Following the completion of the transaction, the director now owns 12,262 shares in the company, valued at approximately $354,617,040. This trade represents a 4,580.15 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Society Pass stock. Virtu Financial LLC purchased a new position in shares of Society Pass Incorporated (NASDAQ:SOPA) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 26,772 shares of the company’s stock, valued at approximately $25,000. Virtu Financial LLC owned 0.73% of Society Pass as of its most recent filing with the Securities & Exchange Commission. 3.09% of the stock is currently owned by hedge funds and other institutional investors.

Society Pass Stock Performance

SOPA traded down $0.06 during trading on Friday, reaching $0.95. 22,595 shares of the stock were exchanged, compared to its average volume of 989,932. The stock’s 50 day moving average price is $1.73 and its two-hundred day moving average price is $1.21. Society Pass has a twelve month low of $0.73 and a twelve month high of $6.75. The stock has a market cap of $3.45 million, a P/E ratio of -0.18 and a beta of 1.32.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets reduced their price target on Society Pass from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, December 5th.

About Society Pass

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.