Monday, September 21, 2020

MICT Inc. [MICT] gain 566.07% so far this year. What now?

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MICT Inc. [NASDAQ: MICT] surged by $1.35 during the normal trading session on Tuesday and reaching a high of $6.39 during the day while it closed the day at $5.93. The company report on September 4, 2020 that MICT Obtains Stockholder Approval of Certain Stock Issuances and the Increase of its Authorized Share Capital as Pertains to its Recent Acquisition of Global Fintech Holdings.

MICT, Inc. (Nasdaq: MICT) (“MICT” or the “Company”) announced today that it has successfully completed its special stockholders meeting.

The purpose of the meeting was to ratify certain stock issuances in connection with MICT’s acquisition of Global Fintech Holdings Intermediate (GFHI) and the previously announced financing. In addition to approving an increase in the authorized shares of common stock and preferred stock, so as to facilitate such financings, as well as future financings and acquisitions. Stockholders also approved an equity incentive plan for MICT. .

MICT Inc. stock has also gained 27.25% of its value over the past 7 days. However, MICT stock has inclined by 415.65% in the 3 months of the year. Over the past six months meanwhile, it has gained 501.54% and gained 566.07% year-on date.

The market cap for MICT stock reached $75.37 million, with 11.10 million shares outstanding and 3.86 million shares in the current float. Compared to the average trading volume of 1.07M shares, MICT reached a trading volume of 3850090 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about MICT Inc. [MICT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MICT shares is $6.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MICT stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for MICT Inc. is set at 0.78 The Price to Book ratio for the last quarter was 15.21, with the Price to Cash per share for the same quarter was set at 0.76.

MICT stock trade performance evaluation

MICT Inc. [MICT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 27.25. With this latest performance, MICT shares gained by 64.72% in over the last four-week period, additionally plugging by 501.54% over the last 6 months – not to mention a rise of 855.99% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MICT stock in for the last two-week period is set at 66.61, with the RSI for the last a single of trading hit 69.64, and the three-weeks RSI is set at 65.37 for MICT Inc. [MICT]. The present Moving Average for the last 50 days of trading for this stock 3.35, while it was recorded at 4.97 for the last single week of trading, and 1.60 for the last 200 days.

MICT Inc. [MICT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and MICT Inc. [MICT] shares currently have an operating margin of -811.11 and a Gross Margin at -81.55. MICT Inc.’s Net Margin is presently recorded at -884.07.

Return on Total Capital for MICT is now -64.95, given the latest momentum, and Return on Invested Capital for the company is -203.72. Return on Equity for this stock declined to -369.26, with Return on Assets sitting at -52.52. When it comes to the capital structure of this company, MICT Inc. [MICT] has a Total Debt to Total Equity ratio set at 57.21. Additionally, MICT Total Debt to Total Capital is recorded at 36.39, with Total Debt to Total Assets ending up at 31.37. Long-Term Debt to Equity for the company is recorded at 57.25, with the Long-Term Debt to Total Capital now at 36.39.

Reflecting on the efficiency of the workforce at the company, MICT Inc. [MICT] managed to generate an average of -$95,841 per employee. Receivables Turnover for the company is 0.65 with a Total Asset Turnover recorded at a value of 0.06.MICT Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.10.

MICT Inc. [MICT]: Insider Ownership positions

There are presently around $3 million, or 14.10% of MICT stock, in the hands of institutional investors. The top three institutional holders of MICT stocks are: LAKEVIEW CAPITAL PARTNERS, LLC with ownership of 239,083, which is approximately 2.795% of the company’s market cap and around 23.30% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 66,395 shares of the stock with an approximate value of $0.39 million in MICT stocks shares; and MORGAN STANLEY, currently with $0.39 million in MICT stock with ownership of nearly -6.749% of the company’s market capitalization.

Positions in MICT Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 3 institutional holders increased their position in MICT Inc. [NASDAQ:MICT] by around 12,428 shares. Additionally, 2 investors decreased positions by around 37,478 shares, while 5 investors held positions by with 394,004 shares. The mentioned changes placed institutional holdings at 443,910 shares, according to the latest SEC report filing. MICT stock had 0 new institutional investments in for a total of 0 shares, while 1 institutional investors sold positions of 32,723 shares during the same period.

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