Borqs Technologies Inc. [BRQS] is -46.29% lower this YTD. Is it still time to buy?


Borqs Technologies Inc. [NASDAQ: BRQS] surged by $0.03 during the normal trading session on Friday and reaching a high of $0.2196 during the day while it closed the day at $0.20. The company report on June 8, 2022 that Borqs Technologies Solar Energy Subsidiary Gets Rapid Market Traction for Participation in Hawaiian Electric Battery Bonus Program for ESG.

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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 its Company’s subsidiary, Holu Hou Energy LLC’s (HHE) with its leading energy storage systems for single-family residential, multi-dwelling unit residential and commercial applications will play a major role in the Battery Bonus Program introduced by Hawaiian Electric Company (HECO), the Hawaiian utility. The program was announced in July 2021 for customers on Oahu and will be utilized to assist HECO in meeting the electricity need from residents during high load periods of the day. A Maui bonus program has also recently been announced.

As part of the Company’s ESG strategy, HHE will actively participate in Hawaii’s Battery Bonus Program.   For early adopters, once our customer’s system is enrolled and the battery is installed and operational, HECO will issue a one-time cash payment for $5,525 and provide monthly credits totalling about $4,000 over the 10-year life of the program.   This arrangement will be a great motivating factor for customers to use HHE’s solar plus energy storage system. Also, HHE’s system, by virtue of its high-power battery and hybrid inverter, can deliver more energy to the Battery Bonus Program than competitor solutions. For example, a customer using a HHE battery system will earn $2,000 more in total than with a battery from one the best-known solar brands. At present, HHE has enrolled 210kW of energy storage at Single-Family Residences, 57.6kW of storage in Multi-Dwelling Units, and 324kW at commercial sites. The company is targeting a total of between 8 to 13MW of energy storage through the life of the program.

Borqs Technologies Inc. stock has also gained 16.21% of its value over the past 7 days. However, BRQS stock has declined by -30.56% in the 3 months of the year. Over the past six months meanwhile, it has lost -54.55% and lost -46.29% year-on date.

The market cap for BRQS stock reached $5.00 million, with 120.70 million shares outstanding and 53.44 million shares in the current float. Compared to the average trading volume of 40.10M shares, BRQS reached a trading volume of 83929858 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 16.21. With this latest performance, BRQS shares gained by 30.72% in over the last four-week period, additionally sinking by -54.55% over the last 6 months – not to mention a drop of -78.43% 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 53.56, with the RSI for the last a single of trading hit 64.11, and the three-weeks RSI is set at 49.39 for Borqs Technologies Inc. [BRQS]. The present Moving Average for the last 50 days of trading for this stock 0.2149, while it was recorded at 0.1753 for the last single week of trading, and 0.4089 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 $0.12 million in BRQS stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $38000.0 in BRQS stock with ownership of nearly New of the company’s market capitalization.

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.