Taoping Inc. [NASDAQ: TAOP] jumped around 0.11 points on Thursday, while shares priced at $6.32 at the close of the session, up 1.77%. The company report on April 15, 2021 that TAOP and Bitmain Signed a Purchase Agreement for Antminer S19j Pro Bitcoin Mining Machines.
Taoping Inc. (NASDAQ: TAOP, the “Company”), a provider of Internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retail, announces that it has signed a Bitcoin mining machine purchase agreement (the “Purchase Agreement”) with Bitmain Technologies Limited. Pursuant to the Purchase Agreement, TAOP will purchase Antminer S19j Pro Bitcoin mining machines with a total order value of about $24 million. The purchase will be funded by a line of credit backed by the personal real estate of Mr. Jianghuai Lin, the Chairman and CEO of TAOP.
S19j Pro is the latest model of Bitmain Antminer launched in April 2021, with a hash rate of 100 TH/s, a low energy efficiency ratio of 30 J/TH, and an expected life cycle over 5 years. The miners are scheduled to deliver starting from August 2021. Upon the completion of deliveries under the Purchase Agreement, TAOP is expected to own an additional hash rate of approximately 300,000 TH/s.
Taoping Inc. stock is now 122.54% up from its year-to-date (YTD) trading value. TAOP Stock saw the intraday high of $7.52 and lowest of $5.95 per share. The company’s 52-week high price is 16.86, which means current price is +130.66% above from all time high which was touched on 03/18/21.
Compared to the average trading volume of 2.92M shares, TAOP reached a trading volume of 14856069 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Taoping Inc. [TAOP]?
The Average True Range (ATR) for Taoping Inc. is set at 1.36, with the Price to Sales ratio for TAOP stock in the period of the last 12 months amounting to 6.08.
How has TAOP stock performed recently?
Taoping Inc. [TAOP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.77. With this latest performance, TAOP shares dropped by -42.02% in over the last four-week period, additionally plugging by 124.91% over the last 6 months – not to mention a rise of 139.39% 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 TAOP stock in for the last two-week period is set at 36.36, with the RSI for the last a single of trading hit 27.34, and the three-weeks RSI is set at 41.81 for Taoping Inc. [TAOP]. The present Moving Average for the last 50 days of trading for this stock 8.45, while it was recorded at 6.95 for the last single week of trading, and 4.30 for the last 200 days.
Taoping Inc. [TAOP]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Taoping Inc. [TAOP] shares currently have an operating margin of -30.25 and a Gross Margin at +47.87. Taoping Inc.’s Net Margin is presently recorded at -25.98.
Return on Total Capital for TAOP is now -18.22, given the latest momentum, and Return on Invested Capital for the company is -52.97. Return on Equity for this stock declined to -52.97, with Return on Assets sitting at -8.71. When it comes to the capital structure of this company, Taoping Inc. [TAOP] has a Total Debt to Total Equity ratio set at 142.40. Additionally, TAOP Total Debt to Total Capital is recorded at 58.75, with Total Debt to Total Assets ending up at 18.47.
Reflecting on the efficiency of the workforce at the company, Taoping Inc. [TAOP] managed to generate an average of -$45,927 per employee. Receivables Turnover for the company is 0.75 with a Total Asset Turnover recorded at a value of 0.34.Taoping Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.
Earnings analysis for Taoping Inc. [TAOP]
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 TAOP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Taoping Inc. go to 23.00%.
Insider trade positions for Taoping Inc. [TAOP]
There are presently around $1 million, or 2.30% of TAOP stock, in the hands of institutional investors. The top three institutional holders of TAOP stocks are: SYMMETRY PEAK MANAGEMENT LLC with ownership of 155,000, which is approximately 25.812% of the company’s market cap and around 29.48% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 68,600 shares of the stock with an approximate value of $0.43 million in TAOP stocks shares; and VIRTU FINANCIAL LLC, currently with $64000.0 in TAOP stock with ownership of nearly New of the company’s market capitalization.
Positions in Taoping Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 4 institutional holders increased their position in Taoping Inc. [NASDAQ:TAOP] by around 110,780 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 123,934 shares. The mentioned changes placed institutional holdings at 234,714 shares, according to the latest SEC report filing. TAOP stock had 2 new institutional investments in for a total of 78,862 shares, while 0 institutional investors sold positions of 0 shares during the same period.