Market cap of Takung Art Co. Ltd. [TKAT] reaches 36.81M – now what?


Takung Art Co. Ltd. [AMEX: TKAT] stock went on an upward path that rose over 8.57% on Thursday, amounting to a one-week price increase of more than 10.83%. The company report on January 7, 2022 that Takung Art Co., Ltd Announces Management Update.

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Takung Art Co., Ltd (NYSE American: TKAT) (“Takung” “TKAT” or the “Company”), an operator of three online fine art and collectibles platforms, today announced the appointment of Mr. Kuangtao Wang as Co-Chief Executive Officer (Co-CEO) to help develop and guide the Company’s strategies in Non-Fungible Token (NFT) related businesses.

As a General Manager for Yongbao Culture and Media Co. Ltd. since 2007, Mr. Wang is a seasoned industry veteran with a deep understanding and practical experience in the business of art auctions and exchanges. At Yongbao, Mr. Wang built an offline art exchange platform for the company’s art business. Following that, in 2020, Mr. Wang joined Wuwei Tongju Digital Technology (Hangzhou) Co. Ltd. as CEO where he was responsible for managing technical resources, infrastructure setup, and architectural design. With his in-depth analysis and industry insight from his experience working with the development of Alipay’s ant chain, Youbanquan, Tencent Huanhe, and other NFT platforms, Mr. Wang brings years of extensive experience ready to be applied to the Company’s expansion into NFTs.

Over the last 12 months, TKAT stock dropped by -93.27%.

The market cap for the stock reached $36.81 million, with 12.69 million shares outstanding and 8.74 million shares in the current float. Compared to the average trading volume of 1.48M shares, TKAT stock reached a trading volume of 26733695 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Takung Art Co. Ltd. [TKAT]:

The Average True Range (ATR) for Takung Art Co. Ltd. is set at 0.35, with the Price to Sales ratio for TKAT stock in the period of the last 12 months amounting to 6.57. The Price to Book ratio for the last quarter was 1.68, with the Price to Cash per share for the same quarter was set at 0.64. Price to Free Cash Flow for TKAT in the course of the last twelve months was 0.87 with Quick ratio for the last quarter at 1.10.

TKAT Stock Performance Analysis:

Takung Art Co. Ltd. [TKAT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.83. With this latest performance, TKAT shares gained by 19.28% in over the last four-week period, additionally sinking by -67.24% over the last 6 months – not to mention a drop of -93.27% 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 TKAT stock in for the last two-week period is set at 59.20, with the RSI for the last a single of trading hit 67.23, and the three-weeks RSI is set at 53.07 for Takung Art Co. Ltd. [TKAT]. The present Moving Average for the last 50 days of trading for this stock 2.56, while it was recorded at 2.43 for the last single week of trading, and 6.53 for the last 200 days.

Insight into Takung Art Co. Ltd. Fundamentals:

Takung Art Co. Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

Takung Art Co. Ltd. [TKAT] Insider Position Details

There are presently around $3 million, or 7.80% of TKAT stock, in the hands of institutional investors. The top three institutional holders of TKAT stocks are: SABBY MANAGEMENT, LLC with ownership of 576,729, which is approximately -5.259% of the company’s market cap and around 37.38% of the total institutional ownership; MORGAN STANLEY, holding 328,142 shares of the stock with an approximate value of $0.8 million in TKAT stocks shares; and SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC, currently with $0.12 million in TKAT stock with ownership of nearly 9.251% of the company’s market capitalization.

Positions in Takung Art Co. Ltd. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 11 institutional holders increased their position in Takung Art Co. Ltd. [AMEX:TKAT] by around 309,676 shares. Additionally, 13 investors decreased positions by around 135,005 shares, while 2 investors held positions by with 634,493 shares. The mentioned changes placed institutional holdings at 1,079,174 shares, according to the latest SEC report filing. TKAT stock had 6 new institutional investments in for a total of 86,599 shares, while 10 institutional investors sold positions of 97,980 shares during the same period.