Borqs Technologies Inc. [NASDAQ: BRQS] stock went on a downward path that fall over -7.81% on Tuesday, amounting to a one-week price increase of more than 27.43%. The company report on November 23, 2020 that Borqs Technologies Signs Strategic MOU for 5G Industrial Park Project in South Taihu New Area of Zhejiang Province, China.
Borqs Technologies, Inc. (Nasdaq: BRQS, the “Company”), a global provider of embedded software and products for the Internet of Things (IoT), reported that the Company has signed an MOU with the Board Committee of Huzhou South Taihu New Area for a 5G Industrial Park Project.
The company intends to setup a Joint Venture in South Taihu New Area in the near term which will serve as Borqs’ China headquarters for 5G activities, including sales, R&D center, and manufacturing.
Over the last 12 months, BRQS stock dropped by -75.31%.
The market cap for the stock reached $53.16 million, with 31.71 million shares outstanding and 18.82 million shares in the current float. Compared to the average trading volume of 3.68M shares, BRQS stock reached a trading volume of 20214122 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Borqs Technologies Inc. [BRQS]:
The Average True Range (ATR) for Borqs Technologies Inc. is set at 0.13, with the Price to Sales ratio for BRQS stock in the period of the last 12 months amounting to 0.54.
BRQS Stock Performance Analysis:
Borqs Technologies Inc. [BRQS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 27.43. With this latest performance, BRQS shares gained by 8.26% in over the last four-week period, additionally sinking by -21.33% over the last 6 months – not to mention a drop of -75.31% 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 58.31, with the RSI for the last a single of trading hit 60.23, and the three-weeks RSI is set at 55.39 for Borqs Technologies Inc. [BRQS]. The present Moving Average for the last 50 days of trading for this stock 1.0653, while it was recorded at 1.1020 for the last single week of trading.
Insight into Borqs Technologies Inc. Fundamentals:
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.
Borqs Technologies Inc. [BRQS] Insider Position Details
There are presently around $5 million, or 17.00% 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; RENAISSANCE TECHNOLOGIES LLC, holding 270,886 shares of the stock with an approximate value of $0.32 million in BRQS stocks shares; and HRT FINANCIAL LP, currently with $0.11 million in BRQS stock with ownership of nearly 555.703% of the company’s market capitalization.
Positions in Borqs Technologies Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 4 institutional holders increased their position in Borqs Technologies Inc. [NASDAQ:BRQS] by around 304,240 shares. Additionally, 3 investors decreased positions by around 177,860 shares, while 2 investors held positions by with 4,165,571 shares. The mentioned changes placed institutional holdings at 4,647,671 shares, according to the latest SEC report filing. BRQS stock had 2 new institutional investments in for a total of 28,244 shares, while 3 institutional investors sold positions of 177,860 shares during the same period.