Market cap of Borqs Technologies Inc. [BRQS] reaches 48.29M – now what?

Borqs Technologies Inc. [NASDAQ: BRQS] gained 4.62% or 0.05 points to close at $1.04 with a heavy trading volume of 1593662 shares. The company report on October 29, 2020 that Borqs Technologies teams with SkyCentrics for the delivery of Utility Scale Automated Smart Controls to the U.S. Power Infrastructure.

Borqs Technologies, Inc. (Nasdaq: BRQS), (the “Company”, or “Borqs”), a global leader in embedded software and products for the Internet of Things (IoT) industry, announced that it plans to join with SkyCentrics, a Northern California company that is the leader in open standard power grid optimization in the U.S., for the manufacturing and delivery of CTA-2045 technology based products. Mobile connected CTA-2045 devices are chosen by utility companies across the U.S. as the open standard platform for controlling smart appliances, beginning with a focus on water heaters, but including pool pumps, HVAC mini-split equipment, electric vehicle chargers, and large commercial electrical equipment.

Historically, all water heaters have been ‘dumb’ with no ability to schedule, thus turning on and off randomly 24 hours a day to regulate the water temperature. Smart water heaters with an open standard CTA-2045 communications port and cellular CTA-2045 modules can optimize the schedule of heating water based on each household’s usage pattern as well as reducing when it is on and the grid is under peak load or using high levels of fossil fuels. CTA-2045 controlled heat pump water heaters are up to 300% more efficient than the traditional natural gas or electric units. It is estimated that the pollution reduction by CTA-2045 controlled domestic water heaters can produce staggering results, with each one million CTA-2045 equipped water heaters equating to the removal of carbon emissions from 200,000 gasoline-powered cars. Commercial and residential markets in buildings and power grid optimization can reach $110 billion by the year 2025, as predicted by Navigant Research. The adoption is expected to begin with utility companies in the western states proposing to initiate the gradual replacement of over 1,000,000 residential and multi-family water heaters with cellular-connected, CTA-2045 controlled, heat pump units starting in 2021. More information on the application of CTA-2045 technology can be found at:https://www.bpa.gov/EE/Technology/demand-response/Pages/CTA2045-DataShare.aspx.

It opened the trading session at $1.01, the shares rose to $1.16 and dropped to $0.99, the range by which the price of stock traded the whole day. The daily chart for BRQS points out that the company has recorded -16.13% loss over the past six months. However, it is still -28.4% lower than its most recent low trading price.

If we look at the average trading volume of 3.20M shares, BRQS reached to a volume of 1593662 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Borqs Technologies Inc. [BRQS]:

The Average True Range (ATR) for Borqs Technologies Inc. is set at 0.11, with the Price to Sales ratio for BRQS stock in the period of the last 12 months amounting to 0.49.

Trading performance analysis for BRQS stock

Borqs Technologies Inc. [BRQS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.97. With this latest performance, BRQS shares dropped by -24.64% in over the last four-week period, additionally sinking by -16.13% over the last 6 months – not to mention a drop of -76.89% 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 BRQS stock in for the last two-week period is set at 49.64, with the RSI for the last a single of trading hit 52.53, and the three-weeks RSI is set at 48.79 for Borqs Technologies Inc. [BRQS]. The present Moving Average for the last 50 days of trading for this stock 1.0600, while it was recorded at 1.0038 for the last single week of trading.

Borqs Technologies Inc. [BRQS]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Borqs Technologies Inc. [BRQS] shares currently have an operating margin of -31.34 and a Gross Margin at +0.44. Borqs Technologies Inc.’s Net Margin is presently recorded at -31.92.

Reflecting on the efficiency of the workforce at the company, Borqs Technologies Inc. [BRQS] managed to generate an average of -$56,813 per employee. Receivables Turnover for the company is 47.66 with a Total Asset Turnover recorded at a value of 1.30.Borqs Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.40.

An analysis of insider ownership at Borqs Technologies Inc. [BRQS]

There are presently around $5 million, or 16.80% of BRQS stock, in the hands of institutional investors. The top three institutional holders of BRQS stocks are: INTEL CORP with ownership of 4,192,756, which is approximately 0% of the company’s market cap and around 26.85% of the total institutional ownership; MILLENNIUM MANAGEMENT LLC, holding 150,188 shares of the stock with an approximate value of $0.16 million in BRQS stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $78000.0 in BRQS stock with ownership of nearly New of the company’s market capitalization.

Positions in Borqs Technologies 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 Borqs Technologies Inc. [NASDAQ:BRQS] by around 107,531 shares. Additionally, 5 investors decreased positions by around 143,922 shares, while 1 investors held positions by with 4,260,753 shares. The mentioned changes placed institutional holdings at 4,512,206 shares, according to the latest SEC report filing. BRQS stock had 3 new institutional investments in for a total of 107,531 shares, while 3 institutional investors sold positions of 50,783 shares during the same period.

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