MICT Inc. [MICT] Is Currently 32.36 above its 200 Period Moving Avg: What Does This Mean?


MICT Inc. [NASDAQ: MICT] stock went on an upward path that rose over 32.36% on Tuesday, amounting to a one-week price increase of more than 17.47%. The company report on May 10, 2022 that TINGO and MICT Announce Execution of Definitive Merger Agreement.

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Merger Would Create an over $900 Million Annual Revenue and Highly Profitable Nasdaq-listed Fintech and Agri-Fintech Company Serving the African and Asian Markets.

Combined Company Would Have a Portfolio of Best-in-Class Financial Platforms, Products and Services With a Global Expansion Strategy.

Over the last 12 months, MICT stock dropped by -53.59%. The one-year MICT Inc. stock forecast points to a potential upside of 82.25. The average equity rating for MICT stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $81.01 million, with 121.42 million shares outstanding and 111.65 million shares in the current float. Compared to the average trading volume of 383.65K shares, MICT stock reached a trading volume of 60656114 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on MICT Inc. [MICT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MICT shares is $4.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MICT stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Alliance Global Partners have made an estimate for MICT Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 04, 2021.

The Average True Range (ATR) for MICT Inc. is set at 0.08, with the Price to Sales ratio for MICT stock in the period of the last 12 months amounting to 2.00. The Price to Book ratio for the last quarter was 0.57, with the Price to Cash per share for the same quarter was set at 0.92.

MICT Stock Performance Analysis:

MICT Inc. [MICT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 17.47. With this latest performance, MICT shares gained by 19.49% in over the last four-week period, additionally sinking by -50.69% over the last 6 months – not to mention a drop of -53.59% 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 MICT stock in for the last two-week period is set at 62.73, with the RSI for the last a single of trading hit 67.01, and the three-weeks RSI is set at 59.08 for MICT Inc. [MICT]. The present Moving Average for the last 50 days of trading for this stock 0.5944, while it was recorded at 0.6070 for the last single week of trading, and 1.1018 for the last 200 days.

Insight into MICT Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and MICT Inc. [MICT] shares currently have an operating margin of -1413.38 and a Gross Margin at -162.40. MICT Inc.’s Net Margin is presently recorded at -1960.10.

Return on Total Capital for MICT is now -45.98, given the latest momentum, and Return on Invested Capital for the company is -68.30. Return on Equity for this stock declined to -70.41, with Return on Assets sitting at -54.97. When it comes to the capital structure of this company, MICT Inc. [MICT] has a Total Debt to Total Equity ratio set at 2.12. Additionally, MICT Total Debt to Total Capital is recorded at 2.08, with Total Debt to Total Assets ending up at 1.70. Long-Term Debt to Equity for the company is recorded at 0.26, with the Long-Term Debt to Total Capital now at 0.26.

Receivables Turnover for the company is 2.66 with a Total Asset Turnover recorded at a value of 0.03.MICT Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.50 and a Current Ratio set at 5.50.

MICT Inc. [MICT] Insider Position Details

There are presently around $6 million, or 10.30% of MICT stock, in the hands of institutional investors. The top three institutional holders of MICT stocks are: VANGUARD GROUP INC with ownership of 4,811,510, which is approximately 21.34% of the company’s market cap and around 8.81% of the total institutional ownership; BLACKROCK INC., holding 2,234,373 shares of the stock with an approximate value of $1.2 million in MICT stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.5 million in MICT stock with ownership of nearly 0% of the company’s market capitalization.

Positions in MICT Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 12 institutional holders increased their position in MICT Inc. [NASDAQ:MICT] by around 2,458,700 shares. Additionally, 9 investors decreased positions by around 1,129,896 shares, while 6 investors held positions by with 7,367,007 shares. The mentioned changes placed institutional holdings at 10,955,603 shares, according to the latest SEC report filing. MICT stock had 8 new institutional investments in for a total of 1,121,506 shares, while 4 institutional investors sold positions of 75,818 shares during the same period.