Short Interest in Society Pass Incorporated (NASDAQ:SOPA) Grows By 1,706.1%

Society Pass Incorporated (NASDAQ:SOPA) was the target of a significant growth in short interest in February. As of February 15th, there was short interest totalling 476,800 shares, a growth of 1,706.1% from the January 31st total of 26,400 shares. Approximately 17.2% of the company’s stock are short sold. Based on an average daily trading volume, of 3,320,000 shares, the days-to-cover ratio is currently 0.1 days.

Insider Activity at Society Pass

In other news, Director Michael Paul Dunn, Jr. purchased 12,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was purchased at an average price of $28,920.00 per share, for a total transaction of $347,040,000.00. Following the completion of the purchase, the director now directly owns 12,262 shares in the company, valued at $354,617,040. The trade was a 4,580.15 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Society Pass

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

Society Pass Trading Down 5.1 %

Shares of NASDAQ SOPA opened at $1.48 on Friday. The company has a market capitalization of $5.40 million, a P/E ratio of -0.29 and a beta of 1.33. Society Pass has a 12 month low of $0.73 and a 12 month high of $6.75. The stock has a 50 day moving average of $1.63 and a 200-day moving average of $1.19.

Analyst Upgrades and Downgrades

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

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.