Mogo Inc. (NASDAQ:MOGO) Sees Significant Growth in Short Interest

Mogo Inc. (NASDAQ:MOGO) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 273,100 shares, a growth of 34.8% from the October 15th total of 202,600 shares. Based on an average trading volume of 76,100 shares, the short-interest ratio is currently 3.6 days. Approximately 1.3% of the shares of the company are sold short.

Hedge Funds Weigh In On Mogo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can acquired a new position in Mogo during the 2nd quarter worth approximately $198,000. Boothbay Fund Management LLC acquired a new position in Mogo during the 1st quarter worth approximately $27,000. Garnet Equity Capital Holdings Inc. boosted its stake in shares of Mogo by 57.0% during the 1st quarter. Garnet Equity Capital Holdings Inc. now owns 793,473 shares of the company’s stock worth $521,000 after acquiring an additional 288,005 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Mogo by 43.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 80,601 shares of the company’s stock worth $53,000 after acquiring an additional 24,350 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Mogo during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 38.63% of the company’s stock.

Mogo Stock Performance

Shares of MOGO stock opened at $1.12 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.52 and a current ratio of 1.52. The stock’s 50-day moving average price is $1.42 and its 200 day moving average price is $1.87. Mogo has a 52-week low of $0.95 and a 52-week high of $2.96.

Analyst Ratings Changes

Separately, HC Wainwright dropped their price target on Mogo from $12.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, October 5th.

Mogo Company Profile

Mogo Inc operates as a digital finance company in Canada, Europe, and internationally. The company provides digital solutions to the consumers to improve their financial health. It offers Mogo Trade, a digital wealth platform for investments; Moka app, a round-up-and-save app that allows users to save and invest with no investment knowledge by rounding up everyday purchases and investing the spare change into a fully managed investment portfolio; MogoCard that is designed to help members learn to spend less than they earn; MogoProtect, a mobile-first identity fraud protection product; MogoMoney that provides access to personal loans; and MogoMortgage, a digital mortgage product, as well as free credit score monitoring service.