Society Pass Incorporated (NASDAQ:SOPA) Short Interest Down 16.7% in March

Society Pass Incorporated (NASDAQ:SOPA) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totaling 87,288 shares, a decrease of 16.7% from the March 15th total of 104,804 shares. Based on an average daily trading volume, of 302,527 shares, the short-interest ratio is currently 0.3 days. Approximately 1.2% of the company’s shares are sold short.

Institutional Trading of Society Pass

Hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new stake in Society Pass in the second quarter valued at approximately $31,000. Geode Capital Management LLC grew its position in shares of Society Pass by 43.3% in the 4th quarter. Geode Capital Management LLC now owns 48,129 shares of the company’s stock valued at $183,000 after buying an additional 14,547 shares during the last quarter. Connective Capital Management LLC acquired a new position in Society Pass in the fourth quarter valued at $282,000. Finally, HRT Financial LP acquired a new position in Society Pass in the fourth quarter valued at $350,000. Institutional investors and hedge funds own 3.09% of the company’s stock.

Society Pass Price Performance

Shares of NASDAQ:SOPA opened at $0.49 on Thursday. The company’s 50 day simple moving average is $0.67 and its 200 day simple moving average is $1.63. The stock has a market capitalization of $3.74 million, a price-to-earnings ratio of -0.21 and a beta of 2.01. Society Pass has a 1 year low of $0.32 and a 1 year high of $6.28.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Society Pass in a report on Friday, March 27th. Wall Street Zen downgraded shares of Society Pass to a “strong sell” rating in a research note on Saturday, December 20th. Zacks Research upgraded shares of Society Pass from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Greenridge Global upgraded shares of Society Pass to a “strong-buy” rating in a research report on Monday, December 22nd. Finally, Ascendiant Capital Markets raised their price objective on shares of Society Pass from $22.00 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.50.

Society Pass Company Profile

Society Pass Inc is a commerce-as-a-service holding company focused on creating and operating an omni-channel loyalty and rewards platform that connects consumers with a diversified portfolio of e-commerce marketplaces and digital services. Through its proprietary technology, the company enables users to earn and redeem loyalty points across various online and offline merchants, fostering repeat engagement for retail, travel, dining and entertainment partners. Society Pass’s model emphasizes the aggregation of customer data, personalized promotions and co-marketing programs to drive sales and brand awareness for its partner network.

The company’s core offerings include an e-commerce marketplace that spans categories such as consumer electronics, health and beauty, groceries, and lifestyle products.