Society Pass (NASDAQ:SOPA) Trading Down 0.7% – Here’s What Happened

Society Pass Incorporated (NASDAQ:SOPA)’s stock price dropped 0.7% during mid-day trading on Monday . The company traded as low as $1.30 and last traded at $1.34. Approximately 15,183 shares were traded during trading, a decline of 88% from the average daily volume of 122,877 shares. The stock had previously closed at $1.35.

Analyst Upgrades and Downgrades

SOPA has been the subject of a number of analyst reports. Wall Street Zen upgraded Society Pass to a “hold” rating in a research report on Saturday, July 12th. Ascendiant Capital Markets boosted their price objective on Society Pass from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Society Pass currently has an average rating of “Buy” and a consensus target price of $15.00.

Society Pass Stock Performance

The stock has a 50 day moving average price of $1.28 and a 200 day moving average price of $1.23. The company has a market cap of $7.18 million, a P/E ratio of -0.66 and a beta of 1.80.

Society Pass (NASDAQ:SOPA) last posted its quarterly earnings data on Wednesday, August 13th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.34. Society Pass had a negative return on equity of 1,168.47% and a negative net margin of 90.52%.The company had revenue of $2.50 million for the quarter, compared to the consensus estimate of $1.50 million. As a group, equities research analysts predict that Society Pass Incorporated will post -2.65 earnings per share for the current year.

Institutional Investors Weigh In On Society Pass

A hedge fund recently bought a new stake in Society Pass stock. XTX Topco Ltd bought a new position in shares of Society Pass Incorporated (NASDAQ:SOPA) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 22,671 shares of the company’s stock, valued at approximately $31,000. XTX Topco Ltd owned 0.42% of Society Pass as of its most recent SEC filing. 3.09% of the stock is currently owned by hedge funds and other institutional investors.

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.