Market cap of BitNile Holdings Inc. [NILE] reaches 98.88M – now what?


BitNile Holdings Inc. [AMEX: NILE] slipped around 0.0 points on Monday, while shares priced at $0.31 at the close of the session, down -0.26%. The company report on July 28, 2022 that Singing Machine Elects to Expand its Board of Directors.

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The Company adds two officers from its majority shareholder, BitNile Holdings, and one member from its management team to the Board.

The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (NASDAQ: MICS) — the North American leader in consumer karaoke products – today announced two officers from BitNile Holdings, Inc. (“BitNile”) (NYSE American: NILE) have been appointed to join the Company’s Board of Directors (the “Board”). The new Board members are Kenneth S. Cragun, BitNile’s Chief Financial Officer, and James M. Turner, Deputy General Counsel and VP of Legal Affairs. The Company is also adding a senior member of management, Bernardo Melo, its Chief Revenue Officer, to the Board. Gary Atkinson, Company CEO, will serve as Chairman of the newly formed Board of Directors. Messrs. Cragun, Turner and Melo all bring industry-leading experience from their respective financial, legal and sales expertise to the Company.

BitNile Holdings Inc. stock is now -74.23% down from its year-to-date (YTD) trading value. NILE Stock saw the intraday high of $0.32 and lowest of $0.30 per share. The company’s 52-week high price is 2.95, which means current price is +36.31% above from all time high which was touched on 01/04/22.

Compared to the average trading volume of 15.47M shares, NILE reached a trading volume of 5692530 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about BitNile Holdings Inc. [NILE]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NILE shares is $3.96 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NILE 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.

The Average True Range (ATR) for BitNile Holdings Inc. is set at 0.03, with the Price to Sales ratio for NILE stock in the period of the last 12 months amounting to 1.37. The Price to Book ratio for the last quarter was 0.09, with the Price to Cash per share for the same quarter was set at 0.17.

How has NILE stock performed recently?

BitNile Holdings Inc. [NILE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.29. With this latest performance, NILE shares gained by 15.52% in over the last four-week period, additionally sinking by -62.85% over the last 6 months – not to mention a drop of -86.61% 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 NILE stock in for the last two-week period is set at 47.49, with the RSI for the last a single of trading hit 46.45, and the three-weeks RSI is set at 46.90 for BitNile Holdings Inc. [NILE]. The present Moving Average for the last 50 days of trading for this stock 0.3156, while it was recorded at 0.3034 for the last single week of trading, and 0.9523 for the last 200 days.

BitNile Holdings Inc. [NILE]: Deeper insight into the fundamentals

BitNile Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.60 and a Current Ratio set at 2.80.

Insider trade positions for BitNile Holdings Inc. [NILE]

There are presently around $4 million, or 4.80% of NILE stock, in the hands of institutional investors. The top three institutional holders of NILE stocks are: VANGUARD GROUP INC with ownership of 3,819,107, which is approximately -14.407% of the company’s market cap and around 0.30% of the total institutional ownership; MARSHALL WACE, LLP, holding 2,048,192 shares of the stock with an approximate value of $0.63 million in NILE stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $0.51 million in NILE stock with ownership of nearly 305.89% of the company’s market capitalization.

28 institutional holders increased their position in BitNile Holdings Inc. [AMEX:NILE] by around 4,818,070 shares. Additionally, 16 investors decreased positions by around 3,050,663 shares, while 15 investors held positions by with 6,375,422 shares. The mentioned changes placed institutional holdings at 14,244,155 shares, according to the latest SEC report filing. NILE stock had 10 new institutional investments in for a total of 2,463,203 shares, while 8 institutional investors sold positions of 2,253,776 shares during the same period.