MICT Inc. [NASDAQ: MICT] gained 4.96% or 0.14 points to close at $2.96 with a heavy trading volume of 16476711 shares. The company report on February 25, 2021 that MICT Acquires Key License for Soon-to-Launch Stock Trading and Wealth Management Platform and Mobile App in China and Hong Kong.
Hong Kong Securities and Futures Commission Approves MICT’s 100% Acquisition of License Holder, Huapei Global Securities Ltd., a Hong Kong-Based Securities and Investments Firm .
MICT, Inc. (Nasdaq: MICT) (“MICT” or the “Company”) announces it has received approval from the Hong Kong SFC (Securities and Futures Commission) to complete the acquisition of Huapei Global Securities, Ltd. (“Huapei”), which provides the Company with a licensed platform to facilitate the trading of securities on the major stock exchanges in Hong Kong, the United States, and China for its Chinese and Hong Kong clientele.
It opened the trading session at $2.92, the shares rose to $3.16 and dropped to $2.78, the range by which the price of stock traded the whole day. The daily chart for MICT points out that the company has recorded -39.59% loss over the past six months. However, it is still -572.73% lower than its most recent low trading price.
If we look at the average trading volume of 4.71M shares, MICT reached to a volume of 16476711 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 MICT Inc. [MICT]:
The Average True Range (ATR) for MICT Inc. is set at 0.35, with the Price to Sales ratio for MICT stock in the period of the last 12 months amounting to 882.38. The Price to Book ratio for the last quarter was 1.33, with the Price to Cash per share for the same quarter was set at 0.21.
Trading performance analysis for MICT stock
MICT Inc. [MICT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 19.35. With this latest performance, MICT shares gained by 39.62% in over the last four-week period, additionally sinking by -39.59% over the last 6 months – not to mention a rise of 196.03% 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 63.85, with the RSI for the last a single of trading hit 67.38, and the three-weeks RSI is set at 61.43 for MICT Inc. [MICT]. The present Moving Average for the last 50 days of trading for this stock 2.32, while it was recorded at 2.70 for the last single week of trading, and 2.57 for the last 200 days.
MICT Inc. [MICT]: A deeper dive into fundamental analysis
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.