Borqs Technologies Inc. [BRQS] Revenue clocked in at $26.80 million, up 2.34% YTD: What’s Next?

Borqs Technologies Inc. [NASDAQ: BRQS] price surged by 4.32 percent to reach at $0.04. The company report on June 7, 2021 that Borqs Technologies Receives 1.7 Million sq.ft. Land Use Rights for the 5G Industrial Park Project in Huzhou, China.

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Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a global provider of embedded software and products for the Internet of Things (IoT) and a portfolio company of Qualcomm Technologies, reported that the Company has signed a supplementary agreement with the Huzhou South Taihu New Development Commission in which Borqs is granted land use rights to 240 Chinese acres (equivalent to 1.7 million sq. ft.) to build up a 5G Industrial Park particularly for 5G mobile technologies R&D and incubation activities, IoT products manufacturing and showcases, as well as hosting facilities for visitors. The first phase of product assembly facilities has already begun and is anticipated to be operational by the end of June 2021.

As previously disclosed in December last year that the Company is in cooperation with the Huzhou authorities for development of the latest mobile technologies and IoT products, this award is one of only five such grants made by Huzhou to commercial enterprises. The 1.7 million sq.ft. of land use rights will be provided to Borqs at the lowest allowable pricing. The Company is authorized to manage all procurement of the project including the solicitation of real estate developers and business participants, and is also anticipated to recruit graduates from the academic institutions in the Huzhou area.

A sum of 8271809 shares traded at recent session while its average daily volume was at 4.12M shares. Borqs Technologies Inc. shares reached a high of $1.06 and dropped to a low of $0.9675 until finishing in the latest session at $1.01.

Guru’s Opinion on Borqs Technologies Inc. [BRQS]:

The Average True Range (ATR) for Borqs Technologies Inc. is set at 0.07, with the Price to Sales ratio for BRQS stock in the period of the last 12 months amounting to 3.18.

BRQS Stock Performance Analysis:

Borqs Technologies Inc. [BRQS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.91. With this latest performance, BRQS shares gained by 8.79% in over the last four-week period, additionally sinking by -4.72% over the last 6 months – not to mention a drop of -36.08% 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 55.34, with the RSI for the last a single of trading hit 67.86, and the three-weeks RSI is set at 49.11 for Borqs Technologies Inc. [BRQS]. The present Moving Average for the last 50 days of trading for this stock 1.0852, while it was recorded at 0.9430 for the last single week of trading, and 1.2153 for the last 200 days.

Insight into Borqs Technologies Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Borqs Technologies Inc. [BRQS] shares currently have an operating margin of -149.14 and a Gross Margin at +5.67. Borqs Technologies Inc.’s Net Margin is presently recorded at -134.90.

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.

Borqs Technologies Inc. [BRQS] Insider Position Details

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 $0.2 million in BRQS stocks shares; and PEAK6 INVESTMENTS LLC, currently with $0.2 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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