Mogo (NASDAQ:MOGO) Stock Price Down 2.2%

Mogo Inc. (NASDAQ:MOGO)’s stock price dropped 2.2% during trading on Friday . The stock traded as low as $1.81 and last traded at $1.81. Approximately 59,842 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 72,069 shares. The stock had previously closed at $1.85.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $8.00 target price on shares of Mogo in a research note on Thursday, March 21st.

Mogo Price Performance

The company’s 50-day moving average price is $1.91 and its 200-day moving average price is $1.67. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.71 and a quick ratio of 1.61. The company has a market cap of $44.78 million, a P/E ratio of -3.29 and a beta of 2.85.

Mogo (NASDAQ:MOGO) last issued its quarterly earnings data on Wednesday, March 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.01. Mogo had a negative net margin of 27.68% and a negative return on equity of 14.98%. The company had revenue of $12.60 million during the quarter, compared to the consensus estimate of $11.24 million. As a group, sell-side analysts predict that Mogo Inc. will post -0.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mogo

Large investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its holdings in Mogo by 349.7% during the first quarter. BNP Paribas Arbitrage SA now owns 19,335 shares of the company’s stock worth $56,000 after purchasing an additional 15,035 shares during the last quarter. Cibc World Market Inc. boosted its holdings in Mogo by 93.3% during the first quarter. Cibc World Market Inc. now owns 21,775 shares of the company’s stock worth $63,000 after purchasing an additional 10,511 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in Mogo by 64.9% during the first quarter. Mackenzie Financial Corp now owns 24,516 shares of the company’s stock worth $72,000 after purchasing an additional 9,653 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in Mogo during the first quarter worth $27,000. Finally, Royal Bank of Canada boosted its holdings in Mogo by 88.8% during the third quarter. Royal Bank of Canada now owns 41,855 shares of the company’s stock worth $38,000 after purchasing an additional 19,682 shares during the last quarter. Institutional investors own 14.79% of the company’s stock.

Mogo Company Profile

Mogo Inc operates as a digital finance company in Canada, Europe, and internationally. The company's digital solutions help build wealth and achieve financial freedom. It provides MogoTrade, a stock trading app; Moka; and MogoMoney that provides online personal loans. The company also offers digital loans and mortgages; and operates a digital payments platform that powers next-generation card programs for both global corporations and fintech companies in Europe and Canada.