Borqs Technologies Inc. [NASDAQ: BRQS] gained 7.09% or 0.09 points to close at $1.36 with a heavy trading volume of 12896439 shares. The company report on December 25, 2020 that Borqs Technologies Enters Into Agreements to Extinguish Debt Totaling Approximately $18 Million and to Eliminate Institutional Loans.
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 entered into Agreements dated December 14, 2020 with its senior lender and LMFA Financing LLC (“LMFA”), a Florida limited liability company and wholly owned subsidiary of LM Funding America, Inc. (Nasdaq: LMFA), in which LMFA is committed to purchase up to be approximately $18 million of debt in tranches, which when completed will eliminate substantially all of the debt with the Company’s senior lender. LMFA will convert the purchased debt into common shares of the Company, pursuant to a court order that allows the conversion shares to be issued as unrestricted securities in a transaction that is exempt from registration under Section 3(a)(10) of the Securities Act of 1933, as amended. Please refer to the company’s SEC filings for additional information about the transaction.
Some of the benefits of the transaction structure include:.
It opened the trading session at $1.282, the shares rose to $1.39 and dropped to $1.23, the range by which the price of stock traded the whole day. The daily chart for BRQS points out that the company has recorded 18.26% gains over the past six months. However, it is still -67.9% lower than its most recent low trading price.
If we look at the average trading volume of 4.18M shares, BRQS reached to a volume of 12896439 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 0.67.
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 11.48. With this latest performance, BRQS shares gained by 28.30% in over the last four-week period, additionally plugging by 18.26% over the last 6 months – not to mention a drop of -54.67% 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 63.79, with the RSI for the last a single of trading hit 66.86, and the three-weeks RSI is set at 61.29 for Borqs Technologies Inc. [BRQS]. The present Moving Average for the last 50 days of trading for this stock 1.1138, while it was recorded at 1.2580 for the last single week of trading, and 1.2946 for the last 200 days.
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 $6 million, or 17.20% 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 $0.37 million in BRQS stocks shares; and HRT FINANCIAL LP, currently with $0.13 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 March and at the time of the March reporting period, where 5 institutional holders increased their position in Borqs Technologies Inc. [NASDAQ:BRQS] by around 374,012 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 4,717,443 shares, according to the latest SEC report filing. BRQS stock had 3 new institutional investments in for a total of 98,016 shares, while 3 institutional investors sold positions of 177,860 shares during the same period.