Garnet Equity Capital Holdings Inc. Cuts Holdings in Mogo Inc. (NASDAQ:MOGO)

Garnet Equity Capital Holdings Inc. lowered its stake in shares of Mogo Inc. (NASDAQ:MOGO) by 40.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 157,824 shares of the company’s stock after selling 106,666 shares during the quarter. Mogo accounts for 0.1% of Garnet Equity Capital Holdings Inc.’s investment portfolio, making the stock its 20th biggest position. Garnet Equity Capital Holdings Inc.’s holdings in Mogo were worth $290,000 as of its most recent filing with the SEC.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and set a $8.00 price target on shares of Mogo in a research report on Thursday, March 21st.

Mogo Price Performance

MOGO traded up $0.01 during midday trading on Thursday, hitting $1.85. The stock had a trading volume of 10,887 shares, compared to its average volume of 66,899. The company has a quick ratio of 1.61, a current ratio of 1.71 and a debt-to-equity ratio of 0.39. Mogo Inc. has a 1 year low of $0.95 and a 1 year high of $2.96. The business has a fifty day moving average of $1.93 and a 200 day moving average of $1.69.

Mogo (NASDAQ:MOGO) last released its earnings results on Wednesday, March 20th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. The company had revenue of $12.60 million for the quarter, compared to analyst estimates of $11.24 million. Mogo had a negative net margin of 27.68% and a negative return on equity of 14.98%. Equities research analysts forecast that Mogo Inc. will post -0.57 EPS for the current year.

About Mogo

Mogo Inc operates as a digital finance company in Canada, Europe, and internationally. The company's digital solutions help build wealth and achieve financial freedom. It provides MogoTrade, a stock trading app; Moka; and MogoMoney that provides online personal loans. The company also offers digital loans and mortgages; and operates a digital payments platform that powers next-generation card programs for both global corporations and fintech companies in Europe and Canada.