Thursday, February 25, 2021

Mogo Inc. [MOGO] Stock trading around $10.50 per share: What’s Next?

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Mogo Inc. [NASDAQ: MOGO] stock went on an upward path that rose over 44.83% on Tuesday, amounting to a one-week price increase of more than 140.83%. The company report on February 4, 2021 that Carta Worldwide Expands into Japan.

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Recently acquired by Mogo Inc., Modern Issuer Processor Carta Worldwide continues international fintech growth with Japanese market expansion.


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Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) a digital payments and financial technology company, announced that its wholly owned subsidiary, Carta Worldwide (“Carta”), has expanded into Japan in support of the TransferWise launch of their multi-currency debit card in the country.

Over the last 12 months, MOGO stock rose by 286.36%.

The market cap for the stock reached $423.00 million, with 40.29 million shares outstanding and 23.65 million shares in the current float. Compared to the average trading volume of 1.81M shares, MOGO stock reached a trading volume of 20613054 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 0.87

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 140.83. With this latest performance, MOGO shares gained by 111.69% in over the last four-week period, additionally plugging by 372.97% over the last 6 months – not to mention a rise of 286.36% 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 89.15, with the RSI for the last a single of trading hit 93.58, and the three-weeks RSI is set at 85.62 for Mogo Inc. [MOGO]. The present Moving Average for the last 50 days of trading for this stock 4.16, while it was recorded at 6.67 for the last single week of trading, and 2.11 for the last 200 days.

Insight into Mogo Inc. Fundamentals:

Mogo Inc. [MOGO] Insider Position Details

There are presently around $23 million, or 7.10% 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 30.08% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 279,919 shares of the stock with an approximate value of $2.94 million in MOGO stocks shares; and NICOLA WEALTH MANAGEMENT LTD., currently with $1.55 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, 6 investors decreased positions by around 1,000,907 shares, while 3 investors held positions by with 1,006,223 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 4 institutional investors sold positions of 934,807 shares during the same period.

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