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

Society Pass Incorporated (NASDAQ:SOPA) was the target of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 123,000 shares, a decrease of 39.6% from the August 31st total of 203,500 shares. Currently, 5.4% of the company’s shares are sold short. Based on an average daily volume of 325,500 shares, the days-to-cover ratio is presently 0.4 days.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets cut their price objective 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.

Society Pass Stock Performance

NASDAQ:SOPA opened at $1.18 on Thursday. Society Pass has a fifty-two week low of $0.73 and a fifty-two week high of $6.60. The company has a 50 day moving average price of $1.15 and a 200 day moving average price of $1.60. The stock has a market capitalization of $3.10 million, a P/E ratio of -0.15 and a beta of 1.19.

Society Pass (NASDAQ:SOPA) last released its quarterly 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. Society Pass had a negative return on equity of 281.27% and a negative net margin of 190.69%. The company had revenue of $1.71 million for the quarter, compared to analysts’ expectations of $2.33 million. Research analysts forecast that Society Pass will post -2.76 earnings per share for the current fiscal year.

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.