Eqonex Limited [EQOS] is -65.78% lower this YTD. Is it still time to buy?

Eqonex Limited [NASDAQ: EQOS] jumped around 0.11 points on Tuesday, while shares priced at $0.64 at the close of the session, up 19.81%. The company report on August 19, 2022 that Digivault now supports BNB Chain.

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FCA-registered crypto custodian Digivault, part of the EQONEX Group (Nasdaq: EQOS) has added support for BNB Chain enabling clients to now hold assets running on BNB Chain, including BNB, BUSD & BEP20 tokens, in their Digivault accounts.

This follows the announcement earlier this year by Digivault’s parent company, EQONEX Limited, that it had entered into a strategic partnership with Binance Connect (Bifinity UAB), a payments technology company that is part of the Binance Group.

Eqonex Limited stock is now -65.78% down from its year-to-date (YTD) trading value. EQOS Stock saw the intraday high of $0.6489 and lowest of $0.53 per share. The company’s 52-week high price is 7.00, which means current price is +33.33% above from all time high which was touched on 03/28/22.

Compared to the average trading volume of 175.84K shares, EQOS reached a trading volume of 4768384 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Eqonex Limited [EQOS]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EQOS shares is $9.89 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EQOS stock is a recommendation set at 3.00. 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.

H.C. Wainwright have made an estimate for Eqonex Limited shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 05, 2021.

The Average True Range (ATR) for Eqonex Limited is set at 0.09, with the Price to Sales ratio for EQOS stock in the period of the last 12 months amounting to 6.58. The Price to Book ratio for the last quarter was 0.40, with the Price to Cash per share for the same quarter was set at 0.13.

How has EQOS stock performed recently?

Eqonex Limited [EQOS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.57. With this latest performance, EQOS shares dropped by -15.79% in over the last four-week period, additionally sinking by -66.49% over the last 6 months – not to mention a drop of -85.75% 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 EQOS stock in for the last two-week period is set at 41.60, with the RSI for the last a single of trading hit 42.03, and the three-weeks RSI is set at 41.47 for Eqonex Limited [EQOS]. The present Moving Average for the last 50 days of trading for this stock 0.7968, while it was recorded at 0.6035 for the last single week of trading, and 1.8577 for the last 200 days.

Eqonex Limited [EQOS]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Eqonex Limited [EQOS] shares currently have an operating margin of -1178.82. Eqonex Limited’s Net Margin is presently recorded at -1416.43.

Return on Equity for this stock declined to -228.28, with Return on Assets sitting at -92.13.

Eqonex Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

Insider trade positions for Eqonex Limited [EQOS]

There are presently around $1 million, or 3.60% of EQOS stock, in the hands of institutional investors. The top three institutional holders of EQOS stocks are: ADAGE CAPITAL PARTNERS GP, L.L.C. with ownership of 585,988, which is approximately -8.084% of the company’s market cap and around 34.83% of the total institutional ownership; INTRINSIC EDGE CAPITAL MANAGEMENT LLC, holding 551,744 shares of the stock with an approximate value of $0.35 million in EQOS stocks shares; and MARSHALL WACE ASIA LTD, currently with $0.24 million in EQOS stock with ownership of nearly New of the company’s market capitalization.

Positions in Eqonex Limited stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 7 institutional holders increased their position in Eqonex Limited [NASDAQ:EQOS] by around 524,149 shares. Additionally, 19 investors decreased positions by around 1,473,007 shares, while 3 investors held positions by with 61,855 shares. The mentioned changes placed institutional holdings at 1,935,301 shares, according to the latest SEC report filing. EQOS stock had 4 new institutional investments in for a total of 459,665 shares, while 10 institutional investors sold positions of 1,364,377 shares during the same period.


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