Borqs Technologies Inc. [BRQS] Stock trading around $0.18 per share: What’s Next?


Borqs Technologies Inc. [NASDAQ: BRQS] price plunged by -4.79 percent to reach at $0.0. 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.

A sum of 7923842 shares traded at recent session while its average daily volume was at 42.56M shares. Borqs Technologies Inc. shares reached a high of $0.1835 and dropped to a low of $0.1751 until finishing in the latest session at $0.18.

Guru’s Opinion on Borqs Technologies Inc. [BRQS]:

The Average True Range (ATR) for Borqs Technologies Inc. is set at 0.02, with the Price to Sales ratio for BRQS stock in the period of the last 12 months amounting to 0.17.

BRQS Stock Performance Analysis:

Borqs Technologies Inc. [BRQS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.54. With this latest performance, BRQS shares dropped by -9.27% in over the last four-week period, additionally sinking by -58.31% over the last 6 months – not to mention a drop of -80.21% 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 44.41, with the RSI for the last a single of trading hit 43.96, and the three-weeks RSI is set at 44.41 for Borqs Technologies Inc. [BRQS]. The present Moving Average for the last 50 days of trading for this stock 0.2120, while it was recorded at 0.1819 for the last single week of trading, and 0.3910 for the last 200 days.

Insight into Borqs Technologies Inc. Fundamentals:

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 Position Details

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 $0.11 million in BRQS stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $35000.0 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.