MoneyHero (NASDAQ:MNY) Stock Price Down 1.8% - Here's What Happened

Key Points

• MoneyHero's shares dropped 1.8% on Friday, trading as low as $1.60, with an 80% decline in trading volume compared to average sessions.
• Wall Street analysts have upgraded MoneyHero to a "strong-buy" rating, setting a target price of $4.00, indicating potential growth despite recent stock performance.
• The company reported a loss of $0.10 earnings per share for the last quarter, with an anticipated negative earnings outlook for the current year.

MoneyHero Limited (NASDAQ:MNY - Get Free Report) dropped 1.8% on Friday . The company traded as low as $1.60 and last traded at $1.67. Approximately 130,916 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 653,811 shares. The stock had previously closed at $1.70.

Wall Street Analyst Weigh In

Separately, Greenridge Global raised MoneyHero to a "strong-buy" rating and set a $4.00 price target for the company in a research note on Monday, July 7th.

MoneyHero Trading Up 5.7%

The stock has a market cap of $82.40 million, a P/E ratio of -2.46 and a beta of 1.30. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.37 and a current ratio of 2.37. The firm's fifty day simple moving average is $1.14 and its 200-day simple moving average is $0.95.

MoneyHero (NASDAQ:MNY - Get Free Report) last announced its earnings results on Friday, June 13th. The company reported ($0.10) earnings per share for the quarter. MoneyHero had a negative return on equity of 52.74% and a negative net margin of 38.67%. The firm had revenue of $363.72 million for the quarter. Equities research analysts expect that MoneyHero Limited will post -0.41 EPS for the current fiscal year.

MoneyHero Company Profile

MoneyHero Limited operates as a personal finance company. It engages in operation of online financial comparison platforms and related services. The company offers its products under Money Hero, SingSaver, Money101, MoneyMax, CompareHero, Seedly, and Creatory brands. MoneyHero Limited operates in Singapore, Hong Kong, Taiwan, the Philippines, Malaysia, and Thailand.