Mogo Inc. [NASDAQ: MOGO] price plunged by -7.75 percent to reach at -$0.72. The company report on May 3, 2021 that Mogo Expands Crypto Portfolio with Corporate Investment in Ethereum Alongside its Existing Investment in Bitcoin.
Mogo plans to Invest up to 5% of the value of its cash and Investment Portfolio in cryptocurrencies.
Investment complements Mogo’s broader cryptocurrency strategy including its recent investment in Canada’s leading digital asset platform, Coinsquare.
A sum of 2072196 shares traded at recent session while its average daily volume was at 4.02M shares. Mogo Inc. shares reached a high of $9.385 and dropped to a low of $8.51 until finishing in the latest session at $8.57.
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 0.95, with the Price to Sales ratio for MOGO stock in the period of the last 12 months amounting to 22.61. The Price to Book ratio for the last quarter was 53.56.
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 10.58. With this latest performance, MOGO shares dropped by -12.99% in over the last four-week period, additionally plugging by 539.55% over the last 6 months – not to mention a rise of 971.25% 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 49.90, with the RSI for the last a single of trading hit 50.71, and the three-weeks RSI is set at 50.31 for Mogo Inc. [MOGO]. The present Moving Average for the last 50 days of trading for this stock 8.79, while it was recorded at 8.73 for the last single week of trading, and 4.37 for the last 200 days.
Insight into Mogo Inc. Fundamentals:
Mogo Inc. [MOGO] Insider Position Details
There are presently around $27 million, or 6.72% 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 16.49% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 854,050 shares of the stock with an approximate value of $7.32 million in MOGO stocks shares; and BOOTHBAY FUND MANAGEMENT, LLC, currently with $1.84 million in MOGO stock with ownership of nearly New of the company’s market capitalization.
13 institutional holders increased their position in Mogo Inc. [NASDAQ:MOGO] by around 1,071,933 shares. Additionally, 5 investors decreased positions by around 69,290 shares, while 5 investors held positions by with 2,010,385 shares. The mentioned changes placed institutional holdings at 3,151,608 shares, according to the latest SEC report filing. MOGO stock had 10 new institutional investments in for a total of 488,667 shares, while 2 institutional investors sold positions of 13,902 shares during the same period.