Singularity Future Technology Ltd. (NASDAQ:SGLY) Stock Short Interest Rises 113.8%

by · The Cerbat Gem

Singularity Future Technology Ltd. (NASDAQ:SGLY – Get Free Report) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 28,021 shares, an increase of 113.8% from the August 31st total of 13,109 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average trading volume of 586,309 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SGLY. Weiss Ratings reissued a “sell (e+)” rating on shares of Singularity Future Technology in a report on Monday, August 3rd. Wall Street Zen raised Singularity Future Technology to a “hold” rating in a research report on Saturday, September 12th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Read Our Latest Report on Singularity Future Technology

Singularity Future Technology Trading Down 0.4%

SGLY traded down $0.00 on Tuesday, hitting $0.83. 20,269 shares of the company’s stock traded hands, compared to its average volume of 462,241. The company’s 50 day simple moving average is $3.11 and its 200-day simple moving average is $4.57. The firm has a market cap of $2.91 million, a price-to-earnings ratio of -0.03 and a beta of 1.48. Singularity Future Technology has a one year low of $0.80 and a one year high of $19.60.

Singularity Future Technology Company Profile

(Get Free Report)

Singularity Future Technology Limited is a technology company focused primarily on digital-asset mining and related blockchain activities. Its operations have included the deployment and management of cryptocurrency-mining equipment, as well as efforts to develop infrastructure and services supporting blockchain-based businesses.

The company was formerly known as Sino-Global Shipping America, Ltd. and historically provided shipping-related services, including logistics coordination and freight-forwarding support.

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