Mogo (NASDAQ:MOGO) Shares Down 3.4% – Here’s Why

Mogo Inc (NASDAQ:MOGO)’s stock price fell 3.4% on Friday . The company traded as low as $1.23 and last traded at $1.3235. 125,211 shares traded hands during trading, an increase of 4% from the average session volume of 120,923 shares. The stock had previously closed at $1.37.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MOGO. Wall Street Zen downgraded shares of Mogo from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Mogo in a research note on Monday, December 29th. Finally, Zacks Research downgraded shares of Mogo from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $4.00.

Mogo Stock Performance

The company’s 50 day moving average price is $1.16 and its 200-day moving average price is $1.52. The stock has a market cap of $30.44 million, a P/E ratio of 5.52 and a beta of 2.71. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.64.

Hedge Funds Weigh In On Mogo

A number of hedge funds and other institutional investors have recently modified their holdings of MOGO. Tidal Investments LLC increased its position in shares of Mogo by 9.8% during the second quarter. Tidal Investments LLC now owns 1,327,179 shares of the company’s stock valued at $1,672,000 after acquiring an additional 118,754 shares during the last quarter. Two Sigma Investments LP purchased a new position in Mogo in the third quarter worth $220,000. Finally, Centiva Capital LP bought a new position in Mogo in the 3rd quarter valued at $30,000. Hedge funds and other institutional investors own 14.79% of the company’s stock.

Mogo Company Profile

Mogo Inc is a Vancouver-based financial technology company that offers a suite of digital banking and personal finance products through a mobile-first platform. The firm’s core mission is to empower consumers with tools to manage their money, monitor their credit, and guard against identity fraud, all delivered via a unified smartphone application. By integrating multiple financial services into one interface, Mogo aims to simplify day-to-day money management and foster healthier financial habits among its members.

The company’s flagship offering is a prepaid Visa card that links directly to its app, enabling users to track spending in real time without the risk of overdraft fees associated with traditional credit cards.