Short Interest in Society Pass Incorporated (NASDAQ:SOPA) Decreases By 22.0%

Society Pass Incorporated (NASDAQ:SOPA) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totalling 45,300 shares, a drop of 22.0% from the May 31st total of 58,100 shares. Based on an average daily volume of 102,400 shares, the short-interest ratio is currently 0.4 days. Approximately 3.4% of the company’s stock are sold short.

Society Pass Price Performance

Shares of SOPA traded down $0.06 during mid-day trading on Monday, hitting $1.28. The company’s stock had a trading volume of 10,456 shares, compared to its average volume of 68,098. Society Pass has a 52-week low of $1.11 and a 52-week high of $11.67. The company’s 50-day moving average is $1.75 and its 200-day moving average is $2.59.

Society Pass (NASDAQ:SOPA) last posted its quarterly earnings results on Wednesday, May 15th. The company reported ($1.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.09). The company had revenue of $1.85 million during the quarter, compared to analysts’ expectations of $2.60 million. Society Pass had a negative return on equity of 202.73% and a negative net margin of 196.58%. Equities analysts predict that Society Pass will post -4.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Maxim Group restated a “hold” rating on shares of Society Pass in a report on Wednesday, April 17th.

About Society Pass

Society Pass Incorporated acquires and operates fintech and e-commerce platforms and mobile applications for consumers and merchants in Singapore, Vietnam, Indonesia, Philippines, the United States, Malaysia, Hong Kong, and Thailand. It operates through Online Grocery and Food and Groceries Deliveries, Digital marketing, Online ticketing and reservation, Telecommunications Reseller, e-Commerce, and Merchant Point of Sale segments.