Garnet Equity Capital Holdings Inc. Sells 106,666 Shares of Mogo Inc. (NASDAQ:MOGO)

Garnet Equity Capital Holdings Inc. cut its stake in shares of Mogo Inc. (NASDAQ:MOGO) by 40.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 157,824 shares of the company’s stock after selling 106,666 shares during the period. Mogo makes up approximately 0.1% of Garnet Equity Capital Holdings Inc.’s investment portfolio, making the stock its 20th largest holding. Garnet Equity Capital Holdings Inc. owned about 0.64% of Mogo worth $290,000 as of its most recent SEC filing.

Mogo Price Performance

Shares of MOGO traded up $0.01 on Thursday, hitting $1.85. The company’s stock had a trading volume of 10,887 shares, compared to its average volume of 66,899. The firm’s fifty day moving average price is $1.93 and its 200-day moving average price is $1.69. Mogo Inc. has a fifty-two week low of $0.95 and a fifty-two week high of $2.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.71 and a quick ratio of 1.61.

Mogo (NASDAQ:MOGO) last released its quarterly earnings results on Wednesday, March 20th. The company reported ($0.09) earnings per share for the quarter, beating 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 analysts’ expectations of $11.24 million. On average, analysts predict that Mogo Inc. will post -0.57 EPS for the current year.

Wall Street Analysts Forecast Growth

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

About Mogo

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.