Short Interest in Society Pass Incorporated (NASDAQ:SOPA) Rises By 375.6%

Society Pass Incorporated (NASDAQ:SOPAGet Free Report) saw a large increase in short interest in the month of April. As of April 30th, there was short interest totaling 865,672 shares, an increase of 375.6% from the April 15th total of 182,002 shares. Based on an average daily volume of 844,610 shares, the short-interest ratio is presently 1.0 days. Currently, 12.0% of the shares of the stock are sold short.

Hedge Funds Weigh In On Society Pass

A number of hedge funds and other institutional investors have recently made changes to their positions in SOPA. Geode Capital Management LLC increased its holdings in Society Pass by 43.3% in the fourth quarter. Geode Capital Management LLC now owns 48,129 shares of the company’s stock worth $183,000 after purchasing an additional 14,547 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Society Pass in the second quarter valued at $31,000. Connective Capital Management LLC acquired a new position in Society Pass during the 4th quarter valued at about $282,000. Finally, HRT Financial LP bought a new stake in Society Pass during the fourth quarter worth $350,000. 3.09% of the stock is owned by institutional investors and hedge funds.

Society Pass Stock Performance

Shares of SOPA stock traded up $0.02 on Thursday, hitting $0.28. The company’s stock had a trading volume of 1,207,302 shares, compared to its average volume of 1,833,933. The stock’s 50 day moving average is $0.50 and its 200-day moving average is $1.33. Society Pass has a fifty-two week low of $0.25 and a fifty-two week high of $6.28. The company has a market capitalization of $2.09 million, a PE ratio of -0.11 and a beta of 1.80.

Wall Street Analysts Forecast Growth

SOPA has been the topic of a number of research reports. Weiss Ratings lowered shares of Society Pass from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, April 24th. Zacks Research upgraded shares of Society Pass from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. One research 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 assigned a Sell rating to the company. According to MarketBeat, Society Pass currently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Check Out Our Latest Report on SOPA

Society Pass Company Profile

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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.

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