Lytus Technologies Holdings PTV. Ltd. [NASDAQ: LYT] jumped around 0.38 points on Tuesday, while shares priced at $3.15 at the close of the session, up 13.72%. The company report on June 17, 2022 that Lytus Announces the Closing of Initial Public Offering.
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Lytus Technologies Holdings PTV. Ltd. (NASDAQ: LYT), a platform technology services company with nearly 8 million users and with operations in the USA and India, today announced the closing of its initial public offering of 2,609,474 common shares at a public offering price of $4.75 per share, for gross proceeds of $12,395,000, before deducting underwriting discounts, commissions and offering expenses. In addition, the Company granted the underwriters a 45-day option to purchase up to an additional 391,421 common shares at the initial public offering price, less the underwriters’ discount, which option was exercised in full following the closing of the Company’s initial public offering, and is expected to close on June 22, 2022.
Spartan Capital Securities, LLC and Pacific Century Securities, LLC are acting as joint book-runners for the offering.
Compared to the average trading volume of 5.07M shares, LYT reached a trading volume of 3955931 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Lytus Technologies Holdings PTV. Ltd. [LYT]?
The Average True Range (ATR) for Lytus Technologies Holdings PTV. Ltd. is set at 2.14, with the Price to Sales ratio for LYT stock in the period of the last 12 months amounting to 73.33. The Price to Book ratio for the last quarter was 7.89.
How has LYT stock performed recently?
Lytus Technologies Holdings PTV. Ltd. [LYT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 29.10.
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 LYT stock in for the last two-week period is set at 41.36, with the RSI for the last a single of trading hit 41.89, and the three-weeks RSI is set at 41.40 for Lytus Technologies Holdings PTV. Ltd. [LYT]. The present Moving Average recorded at 2.85 for the last single week of trading.
Lytus Technologies Holdings PTV. Ltd. [LYT]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Lytus Technologies Holdings PTV. Ltd. [LYT] shares currently have an operating margin of -658.64 and a Gross Margin at -610.71. Lytus Technologies Holdings PTV. Ltd.’s Net Margin is presently recorded at +61.81.
Return on Equity for this stock inclined to 10.27, with Return on Assets sitting at 1.43.