MICT Inc. [NASDAQ: MICT] plunged by -$0.34 during the normal trading session on Thursday and reaching a high of $2.5731 during the day while it closed the day at $2.32. The company report on February 11, 2021 that MICT Announces $60 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules.
MICT, Inc. (Nasdaq: MICT) (the “Company”), announced it has entered into securities purchase agreements with institutional investors for the purchase and sale of (i) 22,471,904 shares of common stock, (ii) 22,471,904 Series A Warrants to purchase 22,471,904 shares of common stock and (iii) 11,235,952 Series B Warrants to purchase 11,235,952 shares of common stock at a combined purchase price of $2.67. The gross proceeds to MICT from this offering are expected to be approximately $60,000,000 before deducting placement agent fees and other estimated offering expenses. The Series A Warrants will be exercisable six months after the date of issuance, have an exercise price of $2.80 per share and will expire five and one-half years from the date of issuance. The Series B Warrants will be exercisable six months after the date of issuance, have an exercise price of $2.80 per share and will expire three and one-half years from the date of issuance. The offering is expected to close on or about February 16, 2021, subject to customary closing conditions.
A.G.P./Alliance Global Partners is acting as sole placement agent for the offering.
MICT Inc. stock has also gained 0.87% of its value over the past 7 days. However, MICT stock has inclined by 45.91% in the 3 months of the year. Over the past six months meanwhile, it has lost -43.14% and gained 11.54% year-on date.
The market cap for MICT stock reached $155.44 million, with 68.58 million shares outstanding and 35.94 million shares in the current float. Compared to the average trading volume of 765.82K shares, MICT reached a trading volume of 2034683 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]:
The Average True Range (ATR) for MICT Inc. is set at 0.22, with the Price to Sales ratio for MICT stock in the period of the last 12 months amounting to 518.13. The Price to Book ratio for the last quarter was 1.05, with the Price to Cash per share for the same quarter was set at 0.28.
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 0.87. With this latest performance, MICT shares gained by 1.31% in over the last four-week period, additionally sinking by -43.14% over the last 6 months – not to mention a rise of 122.01% 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 51.90, with the RSI for the last a single of trading hit 49.66, and the three-weeks RSI is set at 52.16 for MICT Inc. [MICT]. The present Moving Average for the last 50 days of trading for this stock 2.12, while it was recorded at 2.48 for the last single week of trading, and 2.48 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 3.80 and a Current Ratio set at 4.20.
MICT Inc. [MICT]: Insider Ownership positions
There are presently around $4 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 651,925, which is approximately 47.326% of the company’s market cap and around 3.90% of the total institutional ownership; BLACKROCK INC., holding 302,809 shares of the stock with an approximate value of $0.7 million in MICT stocks shares; and LAKEVIEW CAPITAL PARTNERS, LLC, currently with $0.57 million in MICT stock with ownership of nearly 4.63% of the company’s market capitalization.
Positions in MICT Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 14 institutional holders increased their position in MICT Inc. [NASDAQ:MICT] by around 544,020 shares. Additionally, 4 investors decreased positions by around 14,456 shares, while 1 investors held positions by with 1,144,733 shares. The mentioned changes placed institutional holdings at 1,703,209 shares, according to the latest SEC report filing. MICT stock had 7 new institutional investments in for a total of 155,023 shares, while 1 institutional investors sold positions of 1,699 shares during the same period.