Mogo Inc. (NASDAQ:MOGO) Short Interest Down 12.9% in March

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

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reduced their target price on Mogo from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, March 21st.

Mogo Stock Up 4.7 %

Shares of NASDAQ:MOGO opened at $0.90 on Wednesday. The company has a 50 day moving average price of $1.10 and a two-hundred day moving average price of $1.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market capitalization of $22.02 million, a PE ratio of -1.91 and a beta of 3.05. Mogo has a 52 week low of $0.84 and a 52 week high of $2.07.

Institutional Trading of Mogo

Large investors have recently made changes to their positions in the company. AMH Equity Ltd bought a new stake in Mogo during the 4th quarter worth approximately $333,000. Tidal Investments LLC boosted its holdings in shares of Mogo by 7.7% in the fourth quarter. Tidal Investments LLC now owns 1,330,643 shares of the company’s stock valued at $1,810,000 after buying an additional 94,856 shares during the period. Finally, 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 in the last quarter. Institutional investors own 14.79% of the company’s stock.

Mogo Company Profile

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.