Mogo Finance Technology (MOGO) Rating Increased to Buy at ValuEngine

Mogo Finance Technology (NASDAQ:MOGO) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, ValuEngine reports.

Shares of NASDAQ MOGO traded down $0.10 during midday trading on Tuesday, reaching $2.62. 30,800 shares of the company traded hands, compared to its average volume of 10,911. Mogo Finance Technology has a 52 week low of $1.98 and a 52 week high of $4.00. The stock has a market cap of $53.28 million and a P/E ratio of -3.80.

Mogo Finance Technology (NASDAQ:MOGO) last issued its quarterly earnings data on Tuesday, March 12th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.04. Mogo Finance Technology had a negative net margin of 35.90% and a negative return on equity of 1,609.72%. The business had revenue of $12.19 million for the quarter, compared to analysts’ expectations of $11.89 million. Analysts expect that Mogo Finance Technology will post -0.64 EPS for the current year.

A hedge fund recently raised its stake in Mogo Finance Technology stock. JPMorgan Chase & Co. lifted its stake in shares of Mogo Finance Technology Inc (NASDAQ:MOGO) by 225.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,000 shares of the company’s stock after purchasing an additional 45,000 shares during the quarter. JPMorgan Chase & Co. owned about 0.28% of Mogo Finance Technology worth $217,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 5.49% of the company’s stock.

About Mogo Finance Technology

Mogo Finance Technology Inc operates as a financial technology company in Canada. The company offers solutions that help consumers to manage and control their finances. It offers free credit score monitoring; MogoProtect, an identity fraud protection solution; MogoCard, a Mogo Visa Platinum Prepaid Card; MogoMortgage, a digital mortgage solution; MogoCrypto account; and MogoMoney that enables the buying and selling of bitcoin, as well as access to consumer credit products.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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