Mogo Inc. (NASDAQ:MOGO) Sees Large Decrease in Short Interest

Mogo Inc. (NASDAQ:MOGO) saw a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 94,200 shares, a drop of 12.9% from the February 28th total of 108,200 shares. Based on an average daily volume of 64,800 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.4% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, HC Wainwright lowered their target price on Mogo from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, March 21st.

Hedge Funds Weigh In On Mogo

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in shares of Mogo by 130.1% during the fourth quarter. Renaissance Technologies LLC now owns 81,077 shares of the company’s stock worth $110,000 after acquiring an additional 45,842 shares during the last quarter. Tidal Investments LLC grew its stake in Mogo by 7.7% during the 4th quarter. Tidal Investments LLC now owns 1,330,643 shares of the company’s stock valued at $1,810,000 after purchasing an additional 94,856 shares in the last quarter. Finally, AMH Equity Ltd purchased a new stake in Mogo during the 4th quarter worth approximately $333,000. 14.79% of the stock is owned by hedge funds and other institutional investors.

Mogo Trading Down 5.6 %

NASDAQ MOGO opened at $0.84 on Friday. The stock has a market cap of $20.56 million, a P/E ratio of -1.79 and a beta of 3.05. The company’s fifty day simple moving average is $1.08 and its 200-day simple moving average is $1.20. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.50. Mogo has a 52 week low of $0.84 and a 52 week high of $2.07.

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.