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

Society Pass Incorporated (NASDAQ:SOPA) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 6,400 shares, a drop of 83.1% from the September 30th total of 37,800 shares. Based on an average trading volume of 262,600 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.3% of the shares of the stock are short sold.

Society Pass Stock Performance

NASDAQ SOPA traded down $0.04 on Friday, reaching $0.95. The company’s stock had a trading volume of 83,975 shares, compared to its average volume of 151,851. Society Pass has a twelve month low of $0.73 and a twelve month high of $6.60. The firm’s 50 day moving average is $0.97 and its two-hundred day moving average is $1.39. The stock has a market cap of $3.00 million, a PE ratio of -0.14 and a beta of 1.19.

Society Pass (NASDAQ:SOPA) last released its earnings results on Monday, August 19th. The company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.11. The business had revenue of $1.71 million for the quarter, compared to the consensus estimate of $2.33 million. Society Pass had a negative net margin of 190.69% and a negative return on equity of 281.27%. Equities research analysts anticipate that Society Pass will post -2.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.