Mogo (NASDAQ:MOGO) Price Target Lowered to $4.00 at HC Wainwright

Mogo (NASDAQ:MOGOGet Rating) had its target price cut by equities research analysts at HC Wainwright from $8.00 to $4.00 in a research note issued to investors on Friday, The Fly reports. HC Wainwright’s target price would indicate a potential upside of 284.62% from the company’s previous close.

A number of other research analysts have also commented on the company. BTIG Research reiterated a “buy” rating and set a $9.00 price target on shares of Mogo in a report on Thursday, March 24th. Raymond James cut their price target on Mogo from C$13.50 to C$8.00 in a report on Wednesday, March 9th. Finally, Zacks Investment Research lowered Mogo from a “hold” rating to a “sell” rating in a research note on Wednesday, March 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Mogo has an average rating of “Hold” and an average price target of $8.83.

MOGO opened at $1.04 on Friday. The business has a 50 day moving average price of $2.26 and a 200 day moving average price of $3.16. Mogo has a twelve month low of $0.85 and a twelve month high of $8.48. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.23 and a current ratio of 2.23. The firm has a market cap of $79.72 million, a P/E ratio of -2.21 and a beta of 3.03.

Mogo (NASDAQ:MOGOGet Rating) last posted its earnings results on Wednesday, March 23rd. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.08). Mogo had a negative return on equity of 19.52% and a negative net margin of 57.00%. The company had revenue of $13.48 million during the quarter, compared to analyst estimates of $12.73 million. During the same quarter last year, the firm posted ($0.09) earnings per share. As a group, analysts anticipate that Mogo will post -0.51 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. boosted its stake in Mogo by 83.5% in the third quarter. Advisor Group Holdings Inc. now owns 9,558 shares of the company’s stock valued at $41,000 after acquiring an additional 4,348 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Mogo by 6.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 75,765 shares of the company’s stock valued at $326,000 after acquiring an additional 4,914 shares during the last quarter. Geode Capital Management LLC raised its holdings in Mogo by 31.4% in the fourth quarter. Geode Capital Management LLC now owns 22,529 shares of the company’s stock worth $77,000 after purchasing an additional 5,383 shares during the period. National Bank of Canada FI raised its holdings in Mogo by 18.8% in the first quarter. National Bank of Canada FI now owns 35,744 shares of the company’s stock worth $104,000 after purchasing an additional 5,648 shares during the period. Finally, Wedbush Securities Inc. raised its holdings in Mogo by 17.1% in the first quarter. Wedbush Securities Inc. now owns 44,500 shares of the company’s stock worth $129,000 after purchasing an additional 6,500 shares during the period. 17.43% of the stock is currently owned by institutional investors and hedge funds.

About Mogo (Get Rating)

Mogo Inc operates as a financial technology company in Canada and internationally. The company provides digital solutions to the consumers to get in control of their financial health. It offers Mogo app to access a digital spending account with Mogo Visa Platinum Prepaid Card; MogoCrypto that enables the buying and selling of bitcoin; MogoProtect, a free ID fraud protection and monthly credit score monitoring; MogoMortgage, a digital mortgage experience; and MogoMoney that provides access to personal loans.

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