Mogo (TSE:MOGO) Stock Price Up 57.5% - Here's What Happened

Mogo Inc. (TSE:MOGO - Get Free Report)'s share price shot up 57.5% during mid-day trading on Wednesday . The stock traded as high as C$3.80 and last traded at C$2.11. 2,013,520 shares changed hands during trading, an increase of 4,132% from the average session volume of 47,581 shares. The stock had previously closed at C$1.34.

Wall Street Analysts Forecast Growth

Separately, Raymond James lowered their price objective on shares of Mogo from C$4.00 to C$3.00 and set an "outperform" rating for the company in a research report on Friday, March 21st.

Mogo Price Performance

The business has a 50 day simple moving average of C$1.35 and a 200-day simple moving average of C$1.66. The company has a quick ratio of 3.99, a current ratio of 0.49 and a debt-to-equity ratio of 123.15. The company has a market capitalization of C$43.29 million, a P/E ratio of -2.77 and a beta of 3.31.

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.