MICT Inc. [NASDAQ: MICT] jumped around 0.21 points on Monday, while shares priced at $2.41 at the close of the session, up 9.55%. The company report on December 21, 2020 that MICT Launches Insurance Platform in China Ahead of Anticipated Scheduled Timeline.
Recently filed resale registration statement does not reflect new issuance of stock but resale of a portion of outstanding restricted shares.
MICT, Inc. (Nasdaq: MICT) (“MICT” or the “Company”) announces its wholly-owned subsidiary GFH Intermediate Holdings Ltd. (GFHI) has launched the Company’s proprietary insurance platform that is expected to be actively offering insurance products by week’s end, ahead of the Company’s anticipated timeline for launch. As a result, the Company believes that it will commence revenue generation from some of its insurance contracts during December 2020.
MICT Inc. stock is now 170.70% up from its year-to-date (YTD) trading value. MICT Stock saw the intraday high of $2.41 and lowest of $2.18 per share. The company’s 52-week high price is 8.45, which means current price is +449.35% above from all time high which was touched on 08/18/20.
Compared to the average trading volume of 700.61K shares, MICT reached a trading volume of 978427 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about MICT Inc. [MICT]?
The Average True Range (ATR) for MICT Inc. is set at 0.15, with the Price to Sales ratio for MICT stock in the period of the last 12 months amounting to 530.92. The Price to Book ratio for the last quarter was 1.09, with the Price to Cash per share for the same quarter was set at 0.28.
How has MICT stock performed recently?
MICT Inc. [MICT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 22.34. With this latest performance, MICT shares gained by 43.45% in over the last four-week period, additionally plugging by 85.38% over the last 6 months – not to mention a rise of 181.81% 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 70.06, with the RSI for the last a single of trading hit 82.79, and the three-weeks RSI is set at 59.47 for MICT Inc. [MICT]. The present Moving Average for the last 50 days of trading for this stock 1.95, while it was recorded at 2.16 for the last single week of trading, and 2.26 for the last 200 days.
MICT Inc. [MICT]: Deeper insight into the 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 3.80 and a Current Ratio set at 4.20.
Insider trade positions for MICT Inc. [MICT]
There are presently around $3 million, or 4.50% of MICT stock, in the hands of institutional investors. The top three institutional holders of MICT stocks are: BARCLAYS PLC with ownership of 442,506, which is approximately New of the company’s market cap and around 4.20% of the total institutional ownership; BLACKROCK INC., holding 307,333 shares of the stock with an approximate value of $0.68 million in MICT stocks shares; and LAKEVIEW CAPITAL PARTNERS, LLC, currently with $0.51 million in MICT stock with ownership of nearly -2.437% of the company’s market capitalization.
Positions in MICT Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 15 institutional holders increased their position in MICT Inc. [NASDAQ:MICT] by around 938,316 shares. Additionally, 2 investors decreased positions by around 21,927 shares, while 1 investors held positions by with 400,056 shares. The mentioned changes placed institutional holdings at 1,360,299 shares, according to the latest SEC report filing. MICT stock had 9 new institutional investments in for a total of 483,686 shares, while 0 institutional investors sold positions of 0 shares during the same period.