Mogo Inc. [MOGO] moved up 19.02: Why It’s Important

Mogo Inc. [NASDAQ: MOGO] traded at a high on 11/23/20, posting a 19.02 gain after which it closed the day’ session at $2.44. The company report on November 17, 2020 that Mogo Expands Into Global B2B Fintech Market with Acquisition of Digital Payments Technology Company Carta Worldwide.

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Transformational deal combines leading Canadian fintech with over 1 million members with next-gen payments technology platform that processed over $4.0 billion in transaction volume in 2019.

Adds B2B payments platform addressing the $2.5 trillion global payments market1, with over 85% of Carta revenue generated from International markets outside of Canada.

The results of the trading session contributed to over 2754702 shares changing hands. Over the past one week, the price volatility of Mogo Inc. stands at 11.37% while the volatility over the past one month is 11.86%.

The market cap for MOGO stock reached $73.63 million, with 30.18 million shares outstanding and 20.95 million shares in the current float. Compared to the average trading volume of 1.70M shares, MOGO reached a trading volume of 2754702 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Mogo Inc. [MOGO]?

Raymond James have made an estimate for Mogo Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 23, 2020. The new note on the price target was released on August 16, 2019, representing the official price target for Mogo Inc. stock.

The Average True Range (ATR) for Mogo Inc. is set at 0.22

How has MOGO stock performed recently?

Mogo Inc. [MOGO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 31.18. With this latest performance, MOGO shares gained by 68.25% in over the last four-week period, additionally plugging by 162.37% over the last 6 months – not to mention a drop of -4.31% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MOGO stock in for the last two-week period is set at 72.31, with the RSI for the last a single of trading hit 75.47, and the three-weeks RSI is set at 68.72 for Mogo Inc. [MOGO]. The present Moving Average for the last 50 days of trading for this stock 1.58, while it was recorded at 2.14 for the last single week of trading, and 1.44 for the last 200 days.

Mogo Inc. [MOGO]: Deeper insight into the fundamentals

Insider trade positions for Mogo Inc. [MOGO]

There are presently around $5 million, or 7.18% of MOGO stock, in the hands of institutional investors. The top three institutional holders of MOGO stocks are: FORTRESS INVESTMENT GROUP LLC with ownership of 1,351,003, which is approximately 0% of the company’s market cap and around 30.56% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 279,919 shares of the stock with an approximate value of $0.68 million in MOGO stocks shares; and NICOLA WEALTH MANAGEMENT LTD., currently with $0.36 million in MOGO stock with ownership of nearly 0% of the company’s market capitalization.

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9 institutional holders increased their position in Mogo Inc. [NASDAQ:MOGO] by around 158,454 shares. Additionally, 7 investors decreased positions by around 987,061 shares, while 3 investors held positions by with 1,020,069 shares. The mentioned changes placed institutional holdings at 2,165,584 shares, according to the latest SEC report filing. MOGO stock had 4 new institutional investments in for a total of 109,162 shares, while 5 institutional investors sold positions of 920,961 shares during the same period.

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