Short Interest in Mogo Inc. (NASDAQ:MOGO) Decreases By 23.6%

Mogo Inc. (NASDAQ:MOGO) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 64,700 shares, a decline of 23.6% from the August 15th total of 84,700 shares. Based on an average trading volume of 47,000 shares, the short-interest ratio is currently 1.4 days. Approximately 0.3% of the company’s stock are sold short.

Mogo Price Performance

NASDAQ MOGO traded up $0.03 during trading hours on Friday, reaching $1.16. The company’s stock had a trading volume of 14,072 shares, compared to its average volume of 60,640. The company has a market capitalization of $28.31 million, a price-to-earnings ratio of -2.57 and a beta of 2.79. Mogo has a 1 year low of $0.95 and a 1 year high of $2.25. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average price is $1.34 and its 200-day moving average price is $1.62.

Mogo (NASDAQ:MOGO) last posted its earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.07. Mogo had a negative net margin of 24.68% and a negative return on equity of 17.25%. The firm had revenue of $12.83 million for the quarter, compared to the consensus estimate of $12.77 million. On average, equities research analysts predict that Mogo will post -0.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright dropped their target price on shares of Mogo from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, August 9th.

About Mogo

Mogo Inc operates as a digital finance company in Canada, Europe, and internationally. The company's digital solutions help build wealth and achieve financial freedom. It provides MogoTrade, a stock trading app; Moka; and MogoMoney that provides online personal loans. The company also offers digital loans and mortgages; and operates a digital payments platform that powers next-generation card programs for both global corporations and fintech companies in Europe and Canada.