Short Interest in Society Pass Incorporated (NASDAQ:SOPA) Drops By 53.9%

Society Pass Incorporated (NASDAQ:SOPA) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 44,100 shares, a decrease of 53.9% from the February 28th total of 95,700 shares. Based on an average daily trading volume, of 3,350,000 shares, the short-interest ratio is currently 0.0 days. Currently, 1.4% of the shares of the stock are sold short.

Society Pass Stock Performance

SOPA traded down $0.06 during trading on Friday, reaching $0.95. 22,595 shares of the company’s stock were exchanged, compared to its average volume of 989,932. The company’s fifty day moving average price is $1.73 and its 200-day moving average price is $1.21. The firm has a market capitalization of $3.45 million, a PE ratio of -0.18 and a beta of 1.32. Society Pass has a fifty-two week low of $0.73 and a fifty-two week high of $6.75.

Insider Buying and Selling

In other news, Director Michael Paul Dunn, Jr. acquired 12,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were purchased at an average cost of $28,920.00 per share, for a total transaction of $347,040,000.00. Following the transaction, the director now owns 12,262 shares of the company’s stock, valued at approximately $354,617,040. This represents a 4,580.15 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Society Pass

A hedge fund recently bought a new stake in Society Pass stock. Virtu Financial LLC bought a new position in shares of Society Pass Incorporated (NASDAQ:SOPA) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 26,772 shares of the company’s stock, valued at approximately $25,000. Virtu Financial LLC owned 0.73% of Society Pass at the end of the most recent quarter. 3.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets dropped their price objective on Society Pass from $19.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, December 5th.

About Society Pass

Society Pass Incorporated acquires and operates fintech and e-commerce platforms and mobile applications for consumers and merchants in Singapore, Vietnam, Indonesia, Philippines, the United States, Malaysia, Hong Kong, and Thailand. It operates through Online Grocery and Food and Groceries Deliveries, Digital marketing, Online ticketing and reservation, Telecommunications Reseller, e-Commerce, and Merchant Point of Sale segments.