Borqs Technologies Inc. [NASDAQ: BRQS] closed the trading session at $0.17 on 06/06/22. The day’s price range saw the stock hit a low of $0.169, while the highest price level was $0.1778. The company report on June 2, 2022 that Borqs Technologies Completes $16 Million Strategic Funding For Growth of its Solar Software/Hardware Solution Plus Energy Storage Business in the U.S..
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Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a global provider of 5G wireless solutions, Internet of Things (IoT) solutions, and innovative clean energy, with global operations in the U.S., India and China, today announced that it has received strategic funding of $16 million for growth of its solar plus energy storage business in the markets outside of Hawaii particularly in California, and also for development of 5G mobile devices. The investment reflects the recognition of the Company’s ESG strategy by the investors and will further strengthen and reinforce the Company’s growth.
The majority of this financing is led by TDR Capital Pty Limited, a private equity fund in Australia that focuses on emerging companies in various industries including solar. The funds raised will be used mainly for expansion of the Company’s subsidiary, Holu Hou Energy LLC’s (HHE) business in mainland U.S., starting with California, including participation in power purchase agreements (PPA), which is the financing structure usually associated with multiple-unit residential solar solutions. Investors/owners of the PPA pay for the installation of complete hardware and software systems and receive utility usage payment streams directly from residents for up to 20 years, as well as enjoy significant income tax credits from the U.S. federal government. Participating in the PPA may generate recurring revenue for the Company in the cases where utility rates are high enough to offer favorable margins from our solar+storage solutions. Recent global events have significantly bumped up electricity rates in densely populated areas such as Northern and Southern California.
The stocks have a year to date performance of -53.87 percent and weekly performance of 0.70 percent. The stock has been moved at -58.47 percent over the last six months. The stock has performed -17.00 percent around the most recent 30 days and changed -50.20 percent over the most recent 3-months.
If compared to the average trading volume of 36.44M shares, BRQS reached to a volume of 12793925 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 Borqs Technologies Inc. [BRQS]:
The Average True Range (ATR) for Borqs Technologies Inc. is set at 0.03, with the Price to Sales ratio for BRQS stock in the period of the last 12 months amounting to 0.17.
BRQS stock trade performance evaluation
Borqs Technologies Inc. [BRQS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.70. With this latest performance, BRQS shares dropped by -17.00% in over the last four-week period, additionally sinking by -58.47% over the last 6 months – not to mention a drop of -82.99% 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 40.77, with the RSI for the last a single of trading hit 39.06, and the three-weeks RSI is set at 41.97 for Borqs Technologies Inc. [BRQS]. The present Moving Average for the last 50 days of trading for this stock 0.2184, while it was recorded at 0.1741 for the last single week of trading, and 0.4203 for the last 200 days.
Borqs Technologies Inc. [BRQS]: An insightful look at the core 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.
Reflecting on the efficiency of the workforce at the company, Borqs Technologies Inc. [BRQS] managed to generate an average of -$126,182 per employee. Receivables Turnover for the company is 20.24 with a Total Asset Turnover recorded at a value of 0.44.Borqs Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.50.
Borqs Technologies Inc. [BRQS]: Insider Ownership positions
There are presently around $0 million, or 8.00% of BRQS stock, in the hands of institutional investors. The top three institutional holders of BRQS stocks are: PATHSTONE FAMILY OFFICE, LLC with ownership of 999,392, which is approximately 0% of the company’s market cap and around 81.37% of the total institutional ownership; VIRTU FINANCIAL LLC, holding 598,798 shares of the stock with an approximate value of $0.1 million in BRQS stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $32000.0 in BRQS stock with ownership of nearly New of the company’s market capitalization.
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 9 institutional holders increased their position in Borqs Technologies Inc. [NASDAQ:BRQS] by around 938,486 shares. Additionally, 2 investors decreased positions by around 5,435 shares, while 2 investors held positions by with 1,361,210 shares. The mentioned changes placed institutional holdings at 2,305,131 shares, according to the latest SEC report filing. BRQS stock had 7 new institutional investments in for a total of 556,200 shares, while 2 institutional investors sold positions of 5,435 shares during the same period.