Market cap of Takung Art Co. Ltd. [TKAT] reaches 59.61M – now what?

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Takung Art Co. Ltd. [AMEX: TKAT] price surged by 4.55 percent to reach at $0.11. The company report on April 29, 2022 that TKAT announces launch of NFT trading website.

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Takung Art Co Ltd. (NYSE: TKAT) (the “Company” or “TKAT”), an emerging operator of a fine art and collectibles online trading platform, today announced the launch of its own non-fungible tokens (NFTs) website www. nftoeo.com.

This website allows art collectors and investors to buy, sell and discover exclusive digital art items. The launch of the website marks execution of the Company’s strategy to roll out its NFT marketplace business.

A sum of 17578137 shares traded at recent session while its average daily volume was at 2.99M shares. Takung Art Co. Ltd. shares reached a high of $3.20 and dropped to a low of $2.52 until finishing in the latest session at $2.53.

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

The Average True Range (ATR) for Takung Art Co. Ltd. is set at 0.53, with the Price to Sales ratio for TKAT stock in the period of the last 12 months amounting to 596.07. The Price to Book ratio for the last quarter was 11.50, with the Price to Cash per share for the same quarter was set at 0.06.

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 0.40. With this latest performance, TKAT shares gained by 4.98% in over the last four-week period, additionally sinking by -59.13% over the last 6 months – not to mention a drop of -92.17% 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 47.06, with the RSI for the last a single of trading hit 45.64, and the three-weeks RSI is set at 47.72 for Takung Art Co. Ltd. [TKAT]. The present Moving Average for the last 50 days of trading for this stock 2.51, while it was recorded at 2.46 for the last single week of trading, and 5.00 for the last 200 days.

Insight into Takung Art Co. Ltd. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Takung Art Co. Ltd. [TKAT] shares currently have an operating margin of -11204.62 and a Gross Margin at +99.90. Takung Art Co. Ltd.’s Net Margin is presently recorded at -11206.63.

Return on Equity for this stock declined to -313.04, with Return on Assets sitting at -74.57.

Takung Art Co. Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.20.

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

There are presently around $3 million, or 4.50% 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 $0.83 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 May and at the time of the May reporting period, where 13 institutional holders increased their position in Takung Art Co. Ltd. [AMEX:TKAT] by around 315,782 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 1,085,280 shares, according to the latest SEC report filing. TKAT stock had 8 new institutional investments in for a total of 92,705 shares, while 10 institutional investors sold positions of 97,980 shares during the same period.