Mogo (TSE:MOGO) Shares Up 57.5% – Here’s Why

Mogo Inc. (TSE:MOGO)’s stock price shot up 57.5% on Wednesday . The company traded as high as C$3.80 and last traded at C$2.11. 2,013,520 shares were traded during trading, an increase of 4,132% from the average session volume of 47,581 shares. The stock had previously closed at C$1.34.

Wall Street Analysts Forecast Growth

Separately, Raymond James lowered their price objective on shares of Mogo from C$4.00 to C$3.00 and set an “outperform” rating for the company in a research report on Friday, March 21st.

Mogo Stock Performance

The company has a market capitalization of C$50.75 million, a price-to-earnings ratio of -3.25 and a beta of 3.31. The company has a current ratio of 0.49, a quick ratio of 3.99 and a debt-to-equity ratio of 123.15. The stock’s fifty day simple moving average is C$1.32 and its 200-day simple moving average is C$1.64.

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.