Borqs Technologies Inc. [BRQS] fell -7.38% so far this year. What now?

Borqs Technologies Inc. [NASDAQ: BRQS] loss -0.95% on the last trading session, reaching $0.91 price per share at the time. The company report on May 7, 2021 that Borqs Technologies Completes $23 Million Private Placement to Support Growth.

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Borqs Technologies, Inc. (Nasdaq: BRQS, the “Company”), a global provider of embedded software and products for the Internet of Things (IoT), reported that the Company has completed sales of $15.3 million in convertible notes to institutional and individual investors as of May 5, 2021, which in addition to $7.7 million sold to the same investors in February and April, totaled $23 million. The notes have a two-year term and an annual interest rate of 8%. The conversion price was reset to $0.972 per share, which was 90% of the closing price on the day effectiveness of registration was declared. The Company also issued 11,695,906 five-year warrants with an exercise price of $2.222 per share and 2,521,008 five-year warrants with an exercise price of $1.540 per share. The shares underlying the notes and warrants were registered for resale in the Company’s registration statement on Form F-1. Proceeds will be used for the procurement of orders the Company expects to receive from its existing customers and new customers this year and also for development of the next generation 5G products. The Company is experiencing a recovery of business activities in 2021 from the COVID-19 effected levels of 2020, and is engaging new customers. The proceeds will also be used to invest into the Borqs “Huzhou 5G Project” for a R&D center and manufacturing facilities to be completed within the second calendar quarter of 2021.

About Borqs Technologies, Inc.Borqs Technologies is a global leader in software and products for the IoT, providing customizable, differentiated and scalable Android-based smart connected devices and cloud service solutions. Borqs has achieved leadership and customer recognition as an innovative end-to-end IoT solutions provider leveraging its strategic chipset partner relationships as well as its broad software and IP portfolio.

Borqs Technologies Inc. represents 89.37 million in outstanding shares, while the company has a total market value of $79.97 million with the latest information. BRQS stock price has been found in the range of $0.905 to $0.9436.

If compared to the average trading volume of 4.01M shares, BRQS reached a trading volume of 3470974 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 Borqs Technologies Inc. [BRQS]:

The Average True Range (ATR) for Borqs Technologies Inc. is set at 0.06, with the Price to Sales ratio for BRQS stock in the period of the last 12 months amounting to 2.98.

Trading performance analysis for BRQS stock

Borqs Technologies Inc. [BRQS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.29. With this latest performance, BRQS shares dropped by -12.11% in over the last four-week period, additionally sinking by -15.36% over the last 6 months – not to mention a drop of -41.32% 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 BRQS stock in for the last two-week period is set at 43.94, with the RSI for the last a single of trading hit 50.45, and the three-weeks RSI is set at 42.34 for Borqs Technologies Inc. [BRQS]. The present Moving Average for the last 50 days of trading for this stock 1.1118, while it was recorded at 0.9112 for the last single week of trading, and 1.2149 for the last 200 days.

Borqs Technologies Inc. [BRQS]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Borqs Technologies Inc. [BRQS] shares currently have an operating margin of -31.34 and a Gross Margin at +0.44. Borqs Technologies Inc.’s Net Margin is presently recorded at -31.92.

Reflecting on the efficiency of the workforce at the company, Borqs Technologies Inc. [BRQS] managed to generate an average of -$56,813 per employee. Receivables Turnover for the company is 47.66 with a Total Asset Turnover recorded at a value of 1.30.Borqs Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.30.

An analysis of insider ownership at Borqs Technologies Inc. [BRQS]

There are presently around $1 million, or 4.80% of BRQS stock, in the hands of institutional investors. The top three institutional holders of BRQS stocks are: VIRTU FINANCIAL LLC with ownership of 229,167, which is approximately New of the company’s market cap and around 13.26% of the total institutional ownership; BANK OF AMERICA CORP /DE/, holding 203,074 shares of the stock with an approximate value of $0.19 million in BRQS stocks shares; and PEAK6 INVESTMENTS LLC, currently with $0.19 million in BRQS stock with ownership of nearly New of the company’s market capitalization.

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Positions in Borqs Technologies Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 17 institutional holders increased their position in Borqs Technologies Inc. [NASDAQ:BRQS] by around 1,220,054 shares. Additionally, 4 investors decreased positions by around 467,886 shares, while 1 investors held positions by with 256,775 shares. The mentioned changes placed institutional holdings at 1,431,165 shares, according to the latest SEC report filing. BRQS stock had 13 new institutional investments in for a total of 1,068,999 shares, while 4 institutional investors sold positions of 467,886 shares during the same period.

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