Singularity Future Technology Ltd. (NASDAQ:SGLY) Shares Shorted: Short Interest Up 249.0% in October

Singularity Future Technology Ltd. (NASDAQ:SGLY) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 46,105 shares, a growth of 249.0% from the September 30th total of 13,211 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average daily volume of 824,833 shares, the short-interest ratio is presently 0.1 days.

Singularity Future Technology Price Performance

Singularity Future Technology stock opened at $0.49 on Friday. The stock has a market capitalization of $1.70 million, a P/E ratio of -0.02 and a beta of 1.45. Singularity Future Technology has a 12-month low of $0.30 and a 12-month high of $14.28. The firm’s 50-day moving average is $1.13 and its two-hundred day moving average is $4.62.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SGLY shares. Wall Street Zen upgraded shares of Singularity Future Technology from a “sell” rating to a “hold” rating in a report on Sunday, October 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Singularity Future Technology in a research note on Monday, August 3rd. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Singularity Future Technology presently has a consensus rating of “Sell”.

Singularity Future Technology Company Profile

Singularity Future Technology Ltd. (NASDAQ: SGLY) is a technology company focused on blockchain infrastructure and digital asset-related services. Its activities have included the sale and deployment of cryptocurrency mining equipment, mining-machine hosting, and related technical and operational support.

The company has also pursued cryptocurrency mining and data-center initiatives, working to provide infrastructure for digital-asset mining operations. Its services may include equipment procurement, hosting arrangements, facility management and other support associated with blockchain computing.

Singularity Future Technology was formerly known as Sino-Global Shipping America Ltd., a company that provided shipping agency and logistics services.