Tingo, Inc. (NASDAQ:MICT – Get Rating) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 2,900,000 shares, an increase of 14.2% from the November 30th total of 2,540,000 shares. Currently, 2.8% of the shares of the stock are sold short. Based on an average daily volume of 420,200 shares, the days-to-cover ratio is currently 6.9 days.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of Tingo to a "sell" rating in a report on Thursday, December 29th.
Get Tingo alerts:Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new position in Tingo in the second quarter valued at $28,000. Citadel Advisors LLC bought a new position in shares of Tingo during the third quarter valued at about $55,000. Renaissance Technologies LLC grew its stake in shares of Tingo by 424.0% during the second quarter. Renaissance Technologies LLC now owns 177,121 shares of the company's stock valued at $101,000 after buying an additional 143,321 shares during the last quarter. Bison Wealth LLC grew its stake in shares of Tingo by 10.2% during the first quarter. Bison Wealth LLC now owns 183,800 shares of the company's stock valued at $112,000 after buying an additional 17,044 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Tingo by 8.4% during the first quarter. State Street Corp now owns 355,018 shares of the company's stock valued at $217,000 after buying an additional 27,506 shares during the last quarter. Institutional investors own 7.23% of the company's stock.
Tingo Price Performance
MICT opened at $0.83 on Tuesday. Tingo has a 52 week low of $0.41 and a 52 week high of $1.35. The business's fifty day simple moving average is $0.92 and its 200 day simple moving average is $0.77.Tingo (NASDAQ:MICT – Get Rating) last released its earnings results on Monday, November 14th. The company reported ($0.05) EPS for the quarter. The firm had revenue of $13.76 million during the quarter. Tingo had a negative net margin of 76.10% and a negative return on equity of 28.28%.
Tingo Company Profile
(Get Rating)
Tingo, Inc, an agri-fintech company, operates a marketplace platform that empowers social upliftment through mobile, technology, and financial access for rural farming communities in Africa. Its Tingo Mobile offers its comprehensive platform service through use of smartphones 'device as a service' to empower a marketplace to enable subscribers/farmers within and outside of the agricultural sector to manage commercial activities of growing and selling production to market participants in domestically and internationally.
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