Mogo Inc. [MOGO] is 35.21% higher this YTD. Is it still time to buy?

Mogo Inc. [NASDAQ: MOGO] price surged by 6.77 percent to reach at $0.22. The company report on December 14, 2020 that Mogo Receives Conditional TSX Approval Related to Acquisition of Carta Worldwide.

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All figures in Canadian $.

Mogo Inc. (TSX:MOGO) (NASDAQ:MOGO) (“Mogo” or the “Company”), a financial technology company focused on empowering consumers with innovative digital financial solutions through its mobile app, announced that it has received conditional approval from the Toronto Stock Exchange for the issuance and listing of up to an additional 10 million common shares in connection with the previously announced acquisition of Carta Solutions Holding Corporation, also known as Carta Worldwide (“Carta”), a leader in providing next-gen digital payments solutions. Under the terms of the agreement, no shares will be distributed to Carta’s shareholders until the earlier of Mogo’s 10-day vwap on the TSX reaching $7.45 or December 2021. The Company will hold a special meeting of shareholders to approve the acquisition of Carta on January 15, 2021 and expects to close the transaction by the end of January.

A sum of 1457526 shares traded at recent session while its average daily volume was at 2.11M shares. Mogo Inc. shares reached a high of $3.56 and dropped to a low of $3.25 until finishing in the latest session at $3.47.

Guru’s Opinion on 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 0.31

MOGO Stock Performance Analysis:

Mogo Inc. [MOGO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.90. With this latest performance, MOGO shares gained by 86.56% in over the last four-week period, additionally plugging by 230.48% over the last 6 months – not to mention a rise of 32.27% 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 69.94, with the RSI for the last a single of trading hit 71.15, and the three-weeks RSI is set at 68.85 for Mogo Inc. [MOGO]. The present Moving Average for the last 50 days of trading for this stock 2.05, while it was recorded at 3.18 for the last single week of trading, and 1.48 for the last 200 days.

Insight into Mogo Inc. Fundamentals:

Mogo Inc. [MOGO] Insider Position Details

There are presently around $7 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 30.57% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 279,919 shares of the stock with an approximate value of $0.97 million in MOGO stocks shares; and NICOLA WEALTH MANAGEMENT LTD., currently with $0.51 million in MOGO stock with ownership of nearly 0% of the company’s market capitalization.

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8 institutional holders increased their position in Mogo Inc. [NASDAQ:MOGO] by around 141,835 shares. Additionally, 8 investors decreased positions by around 1,003,680 shares, while 3 investors held positions by with 1,003,450 shares. The mentioned changes placed institutional holdings at 2,148,965 shares, according to the latest SEC report filing. MOGO stock had 3 new institutional investments in for a total of 92,543 shares, while 6 institutional investors sold positions of 937,580 shares during the same period.

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