With the current price of $2.4, the stock of Mogo Inc. (NASDAQ:MOGO) concluded the trading session seeing its price rise by 0.26 points or at a gain of 12.15% compared to its previous day’s closing price of $2.14. About 3.275 million shares of the stock changed hands on the day. The trading volume of MOGO’s shares during the past session compares with the stock’s average daily trading volume of 0.905 million shares. On the other hand, a float of 19.3 million shares and a weekly performance of 20.6% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $0 for MOGO’s share which suggests that the stock, price of which is currently buoying between $2.17 and $2.42, is prone to a loss of -100%. But still, there are some analysts recommending a price below the agreed average price and one of them has given a target price of $2.94 to the stock.
The latest data released on July 15, 2020 shows that the short float in the Mogo Inc.’s stock is trending upward as short interest in MOGO shares climbed up leaving more number of shares available to public for trading. Number of shares shorted in the MOGO is currently comprised of 1% of the float as the volume of shorted shares inclined by 9326 shares. Over the past two weeks, stock’s short interests weakened as number of shorted shares increased to 192123 shares from the previous figure of 182797 shares. Stock’s average intraday volume is now standing at 85413 shares which indicate that the days to cover the shorts are nearly 2.249341.
After concluding the day’s trading, price of Mogo Inc. (NASDAQ:MOGO) is up $0.41 over the week and it is $1.44 above 20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $3.88 that was attained on 09/30/19.
The stock has traded as low as $0.55 in past 52-week, and its current price is 332.59% above from that 52-week low price mark recorded on 03/23/20, which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 0. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.
Current indicators are pointing at 73.51 as 14-days RSI of Mogo Inc. This means that the MOGO is currently in an oversold territory and its share’s price movement is likely to be shaky for a while. Similarly, the stochastic oscillator is indicating a momentum of 84.71%, implying stock’s share price is buoying in an oversold state.
Technical chart is showing 1st resistance point of $2.49 for the MOGO’s share while placing it at a 2nd resistance point of $2.58 to be settled at. But if the stock takes a plunge lower than the 1st support price of $2.24 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $2.08.
MACD oscillator is showing a reading of 0.11 for the stock which means that it is currently in the green zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average, which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.
Raymond James started covering the MOGO stock on July 23, recommending Outperform rating for it. The stock gets its recommendation downgraded from Outperform to Market Perform from the analysts at BMO Capital Markets in their August 16 note to investors.
The average rating of 1.5 for MOGO is placing the stock in bullish category at the moment. In a poll by Reuters including 4 analysts in it who kept tracking the Mogo Inc., 0 rated the stock as hold. Others were in different opinions for the MOGO. Out of remaining 4 analysts, 4 rated the stock as a buy or strong buy. 0 were in favor of a sell rating for the stock while advising investors to shun the stock if they already have any or otherwise not to buy it.