Society Pass Incorporated (NASDAQ:SOPA) Sees Significant Increase in Short Interest

Society Pass Incorporated (NASDAQ:SOPA) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 52,900 shares, a growth of 20.0% from the March 15th total of 44,100 shares. Approximately 1.6% of the shares of the company are short sold. Based on an average daily trading volume, of 3,360,000 shares, the days-to-cover ratio is presently 0.0 days.

Insider Transactions at Society Pass

In other news, Director Michael Paul Dunn, Jr. purchased 12,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were purchased at an average cost of $28,920.00 per share, with a total value of $347,040,000.00. Following the completion of the acquisition, the director now owns 12,262 shares of the company’s stock, valued at approximately $354,617,040. This represents a 4,580.15 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Society Pass stock. Virtu Financial LLC bought a new stake in shares of Society Pass Incorporated (NASDAQ:SOPA) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,772 shares of the company’s stock, valued at approximately $25,000. Virtu Financial LLC owned about 0.73% of Society Pass at the end of the most recent reporting period. Hedge funds and other institutional investors own 3.09% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets lowered their target price on shares of Society Pass from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday.

Society Pass Trading Down 4.9 %

SOPA traded down $0.04 during trading on Monday, hitting $0.75. The company’s stock had a trading volume of 88,168 shares, compared to its average volume of 1,000,199. The firm has a market capitalization of $2.74 million, a price-to-earnings ratio of -0.15 and a beta of 1.45. The business’s fifty day simple moving average is $1.39 and its 200 day simple moving average is $1.19. Society Pass has a twelve month low of $0.64 and a twelve month high of $6.75.

Society Pass (NASDAQ:SOPA) last issued its quarterly earnings results on Tuesday, April 15th. The company reported ($1.20) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.84). The company had revenue of $1.87 million during the quarter. Society Pass had a negative return on equity of 431.98% and a negative net margin of 171.10%. As a group, equities research analysts forecast that Society Pass will post -2.65 earnings per share for the current fiscal 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.