Society Pass Incorporated (NASDAQ:SOPA) Sees Large Decrease in Short Interest

Society Pass Incorporated (NASDAQ:SOPA) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 44,100 shares, a decrease of 53.9% from the February 28th total of 95,700 shares. Based on an average daily volume of 3,350,000 shares, the days-to-cover ratio is currently 0.0 days. Currently, 1.4% of the shares of the stock are sold short.

Insider Transactions at Society Pass

In other Society Pass news, Director Michael Paul Dunn, Jr. acquired 12,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was bought at an average price of $28,920.00 per share, with a total value of $347,040,000.00. Following the completion of the acquisition, the director now owns 12,262 shares of the company’s stock, valued at $354,617,040. This trade represents a 4,580.15 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Society Pass

A hedge fund recently bought a new stake in Society Pass stock. Virtu Financial LLC purchased a new stake in shares of Society Pass Incorporated (NASDAQ:SOPA) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 26,772 shares of the company’s stock, valued at approximately $25,000. Virtu Financial LLC owned about 0.73% of Society Pass at the end of the most recent reporting period. 3.09% of the stock is currently owned by institutional investors and hedge funds.

Society Pass Stock Performance

SOPA traded down $0.06 during trading on Friday, reaching $0.95. The stock had a trading volume of 86,838 shares, compared to its average volume of 994,024. The business has a 50-day moving average of $1.73 and a 200-day moving average of $1.21. Society Pass has a one year low of $0.73 and a one year high of $6.75. The stock has a market cap of $3.46 million, a PE ratio of -0.19 and a beta of 1.32.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets cut their price target on shares of Society Pass from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, December 5th.

Society Pass Company Profile

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.