Luokung Technology Corp. [NASDAQ: LKCO] closed the trading session at $0.55 on 03/30/22. The day’s price range saw the stock hit a low of $0.545, while the highest price level was $0.60. The company report on March 29, 2022 that Luokung Announces Acquisition of Beijing Hongda Jiutong Technology Development Co., Ltd.
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Luokung Technology Corp. (NASDAQ: LKCO) (“Luokung” or the “Company”), a leading spatial-temporal intelligent big data services company and provider of interactive location-based services (“LBS”) and high-definition maps (“HD Maps”) in China, today announced the signing of an agreement pursuant to which the Company’s operating affiliate, Beijing Zhong Chuan Shi Xun Technology Limited, has agreed to acquire Beijing Hongda Jiutong Technology Development Co., Ltd (“Hongda Jiutong”). The Company expects to close this transaction by the end of the second quarter of 2022.
Hongda Jiutong is a leading big data service provider for intelligent transportation and connected vehicles in China and owns 29 patented technologies and copyrights covering aspects of automatic generation of HD Map data, assisted driving and data analysis models of connected cars. Through the services it provides to OEMs, Hongda Jiutong’s intelligent algorithm reaches 10 million vehicles and covers roads nationwide, enabling the company to provide safe, energy-efficient and intelligent transportation services to its OEM customers, including real-time vehicle operation data analysis and vehicle energy-saving solutions. Hongda Jiutong’s customers include more than 20 domestic and international OEMs and related enterprises such as FAW Group, Dongfeng Motor and Foton Motor.
The stocks have a year to date performance of -9.43 percent and weekly performance of -10.57 percent. The stock has been moved at -52.34 percent over the last six months. The stock has performed 0.55 percent around the most recent 30 days and changed -9.51 percent over the most recent 3-months.
If compared to the average trading volume of 2.31M shares, LKCO reached to a volume of 3094214 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Luokung Technology Corp. [LKCO]:
The Average True Range (ATR) for Luokung Technology Corp. is set at 0.06, with the Price to Sales ratio for LKCO stock in the period of the last 12 months amounting to 3.94. The Price to Book ratio for the last quarter was 1.25, with the Price to Cash per share for the same quarter was set at 0.04.
LKCO stock trade performance evaluation
Luokung Technology Corp. [LKCO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.57. With this latest performance, LKCO shares gained by 0.55% in over the last four-week period, additionally sinking by -52.34% over the last 6 months – not to mention a drop of -57.84% 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 LKCO stock in for the last two-week period is set at 46.46, with the RSI for the last a single of trading hit 44.94, and the three-weeks RSI is set at 46.66 for Luokung Technology Corp. [LKCO]. The present Moving Average for the last 50 days of trading for this stock 0.5855, while it was recorded at 0.5784 for the last single week of trading, and 1.1025 for the last 200 days.
Luokung Technology Corp. [LKCO]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Luokung Technology Corp. [LKCO] shares currently have an operating margin of -200.57 and a Gross Margin at +3.53. Luokung Technology Corp.’s Net Margin is presently recorded at -218.28.
Return on Total Capital for LKCO is now -39.56, given the latest momentum, and Return on Invested Capital for the company is -55.78. Return on Equity for this stock declined to -74.49, with Return on Assets sitting at -32.27. When it comes to the capital structure of this company, Luokung Technology Corp. [LKCO] has a Total Debt to Total Equity ratio set at 82.78. Additionally, LKCO Total Debt to Total Capital is recorded at 45.29, with Total Debt to Total Assets ending up at 33.72. Long-Term Debt to Equity for the company is recorded at 5.09, with the Long-Term Debt to Total Capital now at 2.77.
Reflecting on the efficiency of the workforce at the company, Luokung Technology Corp. [LKCO] managed to generate an average of -$221,476 per employee. Receivables Turnover for the company is 0.82 with a Total Asset Turnover recorded at a value of 0.15.Luokung Technology Corp.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.40.
Luokung Technology Corp. [LKCO]: Insider Ownership positions
There are presently around $4 million, or 4.70% of LKCO stock, in the hands of institutional investors. The top three institutional holders of LKCO stocks are: SICART ASSOCIATES LLC with ownership of 3,980,941, which is approximately 12.268% of the company’s market cap and around 46.50% of the total institutional ownership; CITADEL ADVISORS LLC, holding 793,559 shares of the stock with an approximate value of $0.47 million in LKCO stocks shares; and STATE STREET CORP, currently with $0.34 million in LKCO stock with ownership of nearly -33.954% of the company’s market capitalization.
11 institutional holders increased their position in Luokung Technology Corp. [NASDAQ:LKCO] by around 2,582,567 shares. Additionally, 10 investors decreased positions by around 1,469,883 shares, while 8 investors held positions by with 3,249,494 shares. The mentioned changes placed institutional holdings at 7,301,944 shares, according to the latest SEC report filing. LKCO stock had 8 new institutional investments in for a total of 1,928,199 shares, while 5 institutional investors sold positions of 908,230 shares during the same period.