500.com Limited [NYSE: WBAI] traded at a low on 04/05/21, posting a -11.47 loss after which it closed the day’ session at $20.14. The company report on April 5, 2021 that 500.com Limited Announces Acquisition of a 7-nanometer Mining Machine Manufacturer and New Issuance of Preference Shares.
500.com Limited (NYSE: WBAI) (“500.com” or the “Company”), a cryptocurrency mining enterprise, announced that it has entered into a share exchange agreement (“Share Exchange Agreement”) with shareholders (the “Selling Shareholders”) of Bee Computing (HK) Limited (“Bee Computing”). Pursuant to the Share Exchange Agreement, the Company expects to issue an aggregate of 45,825,530 of its Class A ordinary shares valued at US$2.182 per share, corresponding to US$21.82 per American Depositary Share (“ADS”) (based on the ratio of ten ordinary shares per ADS), representing a consideration of US$100 million in aggregate, to the Selling Shareholders and research and development team members, in exchange for the total issued share capital of Bee Computing. The 45,825,530 Class A ordinary shares represent approximately 8.18% of the Company’s total outstanding share capital as of March 31, 2021. The price of US$21.82 per ADS is based on the volume weighted average price of the twenty trading days prior to the date of the Share Exchange Agreement. This transaction is subject to the completion of certain conditions precedent to the closing of the transaction, including Bee Computing’s satisfactory completion of certain reorganization steps and other required closing conditions. There can be no assurance that the closing conditions will be satisfied, or that the proposed transaction will be consummated.
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Pursuant the Share Exchange Agreement, the Company shall, subject to customary conditions, issue at the first closing an aggregate of 16,038,930, or US$35 million worth, of its Class A ordinary shares to the Selling Shareholders. The first closing is expected to occur in the second quarter of 2021. Subject to satisfaction of the following milestones, the Company shall issue at the subsequent closing an aggregate of 29,786,600, or US$65 million worth, of its Class A ordinary shares to Selling Shareholders and research and development team members:.
The results of the trading session contributed to over 1499450 shares changing hands. Over the past one week, the price volatility of 500.com Limited stands at 12.51% while the volatility over the past one month is 14.06%.
The market cap for WBAI stock reached $855.14 million, with 43.00 million shares outstanding and 27.04 million shares in the current float. Compared to the average trading volume of 1.00M shares, WBAI reached a trading volume of 1499450 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 500.com Limited [WBAI]?
Oppenheimer have made an estimate for 500.com Limited shares, keeping their opinion on the stock as Perform, with their previous recommendation back on February 04, 2014.
The Average True Range (ATR) for 500.com Limited is set at 2.76, with the Price to Sales ratio for WBAI stock in the period of the last 12 months amounting to 259.13. The Price to Book ratio for the last quarter was 14.08, with the Price to Cash per share for the same quarter was set at 1.11.
How has WBAI stock performed recently?
500.com Limited [WBAI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.60. With this latest performance, WBAI shares gained by 6.00% in over the last four-week period, additionally plugging by 582.71% over the last 6 months – not to mention a rise of 391.22% 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 WBAI stock in for the last two-week period is set at 48.21, with the RSI for the last a single of trading hit 45.65, and the three-weeks RSI is set at 50.41 for 500.com Limited [WBAI]. The present Moving Average for the last 50 days of trading for this stock 19.82, while it was recorded at 20.92 for the last single week of trading, and 8.06 for the last 200 days.
500.com Limited [WBAI]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and 500.com Limited [WBAI] shares currently have an operating margin of -891.35 and a Gross Margin at +23.11. 500.com Limited’s Net Margin is presently recorded at -1023.27.
Return on Total Capital for WBAI is now -37.08, given the latest momentum, and Return on Invested Capital for the company is -42.81. Return on Equity for this stock declined to -44.41, with Return on Assets sitting at -37.64. When it comes to the capital structure of this company, 500.com Limited [WBAI] has a Total Debt to Total Equity ratio set at 2.36. Additionally, WBAI Total Debt to Total Capital is recorded at 2.30, with Total Debt to Total Assets ending up at 2.02. Long-Term Debt to Equity for the company is recorded at 1.44, with the Long-Term Debt to Total Capital now at 1.41.
Receivables Turnover for the company is 0.88 with a Total Asset Turnover recorded at a value of 0.04.500.com Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.60 and a Current Ratio set at 4.60.
Earnings analysis for 500.com Limited [WBAI]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WBAI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for 500.com Limited go to 15.75%.
Insider trade positions for 500.com Limited [WBAI]
There are presently around $79 million, or 8.90% of WBAI stock, in the hands of institutional investors. The top three institutional holders of WBAI stocks are: SC CHINA HOLDING LTD with ownership of 3,504,273, which is approximately 0% of the company’s market cap and around 21.02% of the total institutional ownership; MORGAN STANLEY, holding 270,441 shares of the stock with an approximate value of $5.45 million in WBAI stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $0.8 million in WBAI stock with ownership of nearly 0.878% of the company’s market capitalization.
Positions in 500.com Limited stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 11 institutional holders increased their position in 500.com Limited [NYSE:WBAI] by around 89,809 shares. Additionally, 6 investors decreased positions by around 31,603 shares, while 1 investors held positions by with 3,811,135 shares. The mentioned changes placed institutional holdings at 3,932,547 shares, according to the latest SEC report filing. WBAI stock had 6 new institutional investments in for a total of 76,590 shares, while 5 institutional investors sold positions of 28,903 shares during the same period.