Short Interest in Society Pass Incorporated (NASDAQ:SOPA) Declines By 53.9%

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

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets decreased their price target on 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 Trading Down 5.9 %

Shares of SOPA traded down $0.06 during midday trading on Friday, reaching $0.95. The stock had a trading volume of 86,838 shares, compared to its average volume of 994,024. The firm has a 50 day simple moving average of $1.73 and a 200-day simple moving average of $1.22. The firm has a market cap of $3.46 million, a PE ratio of -0.19 and a beta of 1.32. Society Pass has a one year low of $0.73 and a one year high of $6.75.

Insider Activity

In other Society Pass news, Director Michael Paul Dunn, Jr. purchased 12,000 shares of the stock in a transaction on Monday, February 3rd. The shares were purchased at an average cost of $28,920.00 per share, for a total transaction of $347,040,000.00. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Society Pass

An institutional investor recently bought a new position in Society Pass stock. Virtu Financial LLC acquired a new position in shares of Society Pass Incorporated (NASDAQ:SOPA) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 26,772 shares of the company’s stock, valued at approximately $25,000. Virtu Financial LLC owned 0.73% of Society Pass at the end of the most recent reporting period. 3.09% of the stock is owned by institutional investors and hedge funds.

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.