Singularity Future Technology Ltd. (NASDAQ:SGLY) Sees Significant Decrease in Short Interest

Singularity Future Technology Ltd. (NASDAQ:SGLY) saw a significant drop in short interest in September. As of September 30th, there was short interest totaling 13,211 shares, a drop of 52.9% from the September 15th total of 28,021 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average trading volume of 155,972 shares, the short-interest ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SGLY shares. Weiss Ratings restated a “sell (e+)” rating on shares of Singularity Future Technology in a research report on Monday, August 3rd. Wall Street Zen upgraded shares of Singularity Future Technology from a “sell” rating to a “hold” rating in a research report on Sunday. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, Singularity Future Technology currently has an average rating of “Sell”.

Singularity Future Technology Stock Performance

SGLY stock traded down $0.04 during midday trading on Wednesday, reaching $0.64. 49,544 shares of the company traded hands, compared to its average volume of 482,276. The firm has a market capitalization of $2.24 million, a price-to-earnings ratio of -0.03 and a beta of 1.45. Singularity Future Technology has a 52-week low of $0.62 and a 52-week high of $14.28. The business has a 50 day moving average of $2.29 and a 200-day moving average of $4.21.

Singularity Future Technology (NASDAQ:SGLY) last announced its earnings results on Tuesday, October 13th. The company reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $7.00 by ($5.40). The company had revenue of $0.83 million during the quarter, compared to analysts’ expectations of $11.30 million. Singularity Future Technology had a negative return on equity of 35.44% and a negative net margin of 347.46%.

Singularity Future Technology Company Profile

Singularity Future Technology Ltd., formerly known as Sino-Global Shipping America Ltd., is a logistics and supply chain services company. Its traditional business has included shipping agency services, freight forwarding, container trucking, warehousing coordination and related transportation support for cargo moving through international trade routes.

The company has historically served customers involved in global shipping, with operations and business relationships connected to the United States and China.