Number of Hedge Fund Holders: 8
Mogo Inc. (NASDAQ: MOGO) is a fintech company operating in Canada and providing a finance app empowering users by providing them with solutions for financial problems. The company’s Mogo app and MogoSpend are two among the many services it offers to its consumers. It ranks 9th on our list of the best stocks under $10 to buy right now.
This June, Mogo Inc. (NASDAQ: MOGO) acquired an additional 2% of common shares in Coinsquare, Canada’s leading cryptocurrency platform. The company now has an approximately 39% stake in Coinsquare. BTIG analyst Mark Palmer began covering the stock on June 15th, giving it a Buy rating and a $13 price target. Palmer called Mogo Inc. (NASDAQ: MOGO) an attractive option for investors looking for companies indulged in both cryptocurrency and the digital disruption of the financial services sector in Canada. Mogo Inc. (NASDAQ: MOGO) has also bought Ethereum this May, further solidifying its cryptocurrency and blockchain presence. In the first quarter of 2021, Mogo Inc. (NASDAQ: MOGO) had an EPS of -$0.11, beating estimates by $0.02. The company’s revenue was $9.39 million, beating estimates by $0.45 million, and it has a gross profit margin of 73.93%. The stock has gained 69.35% in the past 6 months and 82.84% year to date.
By the end of the first quarter of 2021, 8 hedge funds out of the 866 tracked by Insider Monkey held stakes in Mogo Inc. (NASDAQ: MOGO). The total value of their stakes was roughly $29.6 million. This is compared to 4 hedge fund holders in the previous quarter with a total stake value of about $3.8 million. Like Amazon, Inc. (NASDAQ: AMZN), Alphabet Inc. (NASDAQ: GOOG), or Apple Inc. (NASDAQ: AAPL), Mogo Inc. (NASDAQ: MOGO) is a good stock to invest in.