Singularity Future Technology Ltd. (NASDAQ:SGLY) Sees Large Increase in Short Interest

Singularity Future Technology Ltd. (NASDAQ:SGLY) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 28,021 shares, a growth of 113.8% from the August 31st total of 13,109 shares. Based on an average trading volume of 586,309 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.9% of the shares of the company are sold short.

Singularity Future Technology Trading Down 5.2%

NASDAQ SGLY opened at $0.79 on Wednesday. The firm’s 50 day simple moving average is $3.05 and its 200 day simple moving average is $4.54. The firm has a market capitalization of $2.77 million, a price-to-earnings ratio of -0.03 and a beta of 1.48. Singularity Future Technology has a 1 year low of $0.77 and a 1 year high of $19.60.

Singularity Future Technology (NASDAQ:SGLY) last announced its quarterly earnings data on Tuesday, September 29th. The company reported $1.60 EPS for the quarter. The business had revenue of $0.83 million during the quarter. Singularity Future Technology had a negative net margin of 493.25% and a negative return on equity of 42.68%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SGLY. Wall Street Zen upgraded Singularity Future Technology to a “hold” rating in a research note on Saturday, September 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Singularity Future Technology in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Singularity Future Technology Company Profile

Singularity Future Technology Limited is a technology company focused primarily on digital-asset mining and related blockchain activities. Its operations have included the deployment and management of cryptocurrency-mining equipment, as well as efforts to develop infrastructure and services supporting blockchain-based businesses.

The company was formerly known as Sino-Global Shipping America, Ltd. and historically provided shipping-related services, including logistics coordination and freight-forwarding support.