Luokung Technology Corp. [NASDAQ: LKCO] closed the trading session at $1.55 on 02/26/21. The day’s price range saw the stock hit a low of $1.55, while the highest price level was $1.87. The company report on February 22, 2021 that Luokung Technology Corp. Announces the Closing of $100 Million Registered Direct Offering Priced At-the-Market under Nasdaq Rules.
Luokung Technology Corp. (the “Company” or “Luokung”) (NASDAQ: LKCO), announced that on February 19, 2021, it closed its previously announced registered direct offering of (i) 48,076,923 ordinary shares and (ii) warrants to purchase 19,230,768 ordinary shares at a combined purchase price of $2.08. The gross proceeds to Luokung from this offering are approximately $100,000,000, before deducting placement agent fees and other estimated offering expenses. The warrants have an exercise price of $2.38 per share and expire three years from the date of issuance. The offering was priced at-the-market under Nasdaq rules.
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FT Global Capital, Inc. acted as the exclusive placement agent for the transaction.
The stocks have a year to date performance of 127.94 percent and weekly performance of -32.61 percent. The stock has been moved at 205.96 percent over the last six months. The stock has performed 146.03 percent around the most recent 30 days and changed 158.33 percent over the most recent 3-months.
If compared to the average trading volume of 13.10M shares, LKCO reached to a volume of 17631950 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 Luokung Technology Corp. [LKCO]:
The Average True Range (ATR) for Luokung Technology Corp. is set at 0.39, with the Price to Sales ratio for LKCO stock in the period of the last 12 months amounting to 30.60. The Price to Book ratio for the last quarter was 5.98, with the Price to Cash per share for the same quarter was set at 0.00.
LKCO stock trade performance evaluation
Luokung Technology Corp. [LKCO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -32.61. With this latest performance, LKCO shares gained by 146.03% in over the last four-week period, additionally plugging by 205.96% over the last 6 months – not to mention a rise of 72.24% 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 LKCO stock in for the last two-week period is set at 51.98, with the RSI for the last a single of trading hit 47.50, and the three-weeks RSI is set at 54.14 for Luokung Technology Corp. [LKCO]. The present Moving Average for the last 50 days of trading for this stock 0.9946, while it was recorded at 1.9080 for the last single week of trading, and 0.6607 for the last 200 days.
Luokung Technology Corp. [LKCO]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Luokung Technology Corp. [LKCO] shares currently have an operating margin of -167.32 and a Gross Margin at +18.15. Luokung Technology Corp.’s Net Margin is presently recorded at -167.81.
Return on Total Capital for LKCO is now -40.13, given the latest momentum, and Return on Invested Capital for the company is -41.74. Return on Equity for this stock declined to -53.64, with Return on Assets sitting at -29.32. When it comes to the capital structure of this company, Luokung Technology Corp. [LKCO] has a Total Debt to Total Equity ratio set at 64.24. Additionally, LKCO Total Debt to Total Capital is recorded at 39.11, with Total Debt to Total Assets ending up at 29.64. Long-Term Debt to Equity for the company is recorded at 61.34, with the Long-Term Debt to Total Capital now at 37.19.
Reflecting on the efficiency of the workforce at the company, Luokung Technology Corp. [LKCO] managed to generate an average of -$173,149 per employee. Receivables Turnover for the company is 0.57 with a Total Asset Turnover recorded at a value of 0.17.Luokung Technology Corp.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.40.
Luokung Technology Corp. [LKCO]: Insider Ownership positions
There are presently around $6 million, or 6.20% of LKCO stock, in the hands of institutional investors. The top three institutional holders of LKCO stocks are: SICART ASSOCIATES LLC with ownership of 3,117,617, which is approximately -25.897% of the company’s market cap and around 46.50% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 301,200 shares of the stock with an approximate value of $0.47 million in LKCO stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.25 million in LKCO stock with ownership of nearly 3.881% of the company’s market capitalization.
6 institutional holders increased their position in Luokung Technology Corp. [NASDAQ:LKCO] by around 228,265 shares. Additionally, 5 investors decreased positions by around 1,486,337 shares, while 0 investors held positions by with 2,121,718 shares. The mentioned changes placed institutional holdings at 3,836,320 shares, according to the latest SEC report filing. LKCO stock had 4 new institutional investments in for a total of 186,388 shares, while 2 institutional investors sold positions of 7,101 shares during the same period.