Mogo Inc [NASDAQ: MOGO] traded at a high on Thursday, posting a 5.82 gain after which it closed the day’ session at $2.00. The company report on March 27, 2024 at 8:31 AM that Mogo Nominates Independent Candidate for Election to WonderFi’s Board of Directors – Supports KAOS Capital’s Call for a Fundamental Transformation of Board.
Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) (“Mogo” or the “Company”), today announced that, pursuant to its investor rights agreement (“IRA”) with WonderFi Technologies Inc. (“WonderFi”) and the Company’s right thereunder to nominate one director (the “Mogo Director Nominee”) for election to the Board of Directors of WonderFi (the “Board”), it has nominated experienced technology and financial executive, Christoper Payne, for election to the Board at WonderFi’s upcoming 2024 Annual General Meeting of Shareholders (the “2024 Meeting”). Mogo is WonderFi’s largest shareholder, holding approximately 87 million common shares (~13% ownership interest) of WonderFi (the “WonderFi Shares”). Mogo also announced that it has entered into a voting agreement with KAOS Capital Ltd. (“KAOS Capital”) supporting a slate of new directors at WonderFi. KAOS’ press release from this morning may be found at the following link: https://www.businesswire.com/news/home/20240327940114/en/Activist-Adam-Arviv-Announces-Intent-to-Nominate-New-Slate-of-Directors-to-the-Board-of-WonderFi.
“Chris will bring a proven track record of value creation and important sector and market-level expertise to the WonderFi board at a critical time in the company’s development,” said Greg Feller, President & Co-Founder of Mogo. “Chris’s time in Silicon Valley in the electronic payments space as a co-founder with Elon Musk of online bank X.com, and as an investor in, and advisor to mid-market growth technology companies, will be a valuable resource to WonderFi as it seeks to leverage its current market position into sustainable, profitable growth.”.
The results of the trading session contributed to over 113286 shares changing hands. Over the past one week, the price volatility of Mogo Inc stands at 5.07% while the volatility over the past one month is 8.38%.
The market cap for MOGO stock reached $49.48 million, with 24.33 million shares outstanding and 21.37 million shares in the current float. Compared to the average trading volume of 74.62K shares, MOGO reached a trading volume of 113286 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]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MOGO shares is $5.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MOGO stock is a recommendation set at 1.33. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BTIG Research have made an estimate for Mogo Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 26, 2022. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on June 15, 2021, representing the official price target for Mogo Inc stock. Previously, the target price had yet another raise from $85 to $100, while Canaccord Genuity kept a Speculative Buy rating on MOGO stock.
The Average True Range (ATR) for Mogo Inc is set at 0.15, with the Price to Sales ratio for MOGO stock in the period of the last 12 months amounting to 1.03. The Price to Book ratio for the last quarter was 0.68, with the Price to Cash per share for the same quarter was set at 0.49. Price to Free Cash Flow for MOGO in the course of the last twelve months was 7.14.
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 1.01. With this latest performance, MOGO shares gained by 8.70% in over the last four-week period, additionally plugging by 25.00% over the last 6 months – not to mention a rise of 5.49% 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 53.48, with the RSI for the last a single of trading hit 53.76, and the three-weeks RSI is set at 53.57 for Mogo Inc [MOGO]. The present Moving Average for the last 50 days of trading for this stock 1.7900, while it was recorded at 1.9200 for the last single week of trading, and 1.7600 for the last 200 days.
Earnings analysis for Mogo Inc [MOGO]
With the latest financial reports released by the company, Mogo Inc posted -0.11/share EPS, while the average EPS was predicted by analysts to be reported at -0.2/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 45.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MOGO.
Insider trade positions for Mogo Inc [MOGO]
The top three institutional holders of MOGO stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MOGO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MOGO stock with ownership which is approximately 5.8325%.
