BitNile Holdings Inc. [AMEX: NILE] traded at a high on 08/29/22, posting a 2.29 gain after which it closed the day’ session at $0.30. The company report on August 29, 2022 that BitNile Holdings’ Subsidiary, Digital Power Lending, Makes Strategic Investment in Lab-Grown Diamond Manufacturer.
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BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile” or the “Company”) announced today that its subsidiary, Digital Power Lending, LLC (“DP Lending”), has lent $4.1 million to Adamas One Corp. (“Adamas”) in the form of a senior secured convertible note. DP Lending also received warrants to purchase shares of common stock, which are exercisable if DP Lending elects to convert the note. The Company sees this as a strategic investment to support Adamas as they seek a public listing by the end of 2022.
Adamas, using proprietary technology, which includes a portfolio of patents, is an emerging manufacturer of lab-grown diamonds meant for consumer and industrial uses. The lab-grown diamond industry has grown rapidly in recent years as it serves as a viable and eco-friendly alternative to the traditional mined diamond industry. The Adamas manufactured lab-grown diamonds have the same chemical, physical and optical properties as mined diamonds without the negatives associated with traditionally mined diamonds. Adamas expects to capitalize on the growing lab-grown diamond industry through consumer sales and industrial applications of their products. The Company believes that Adamas’ management has the expertise, experience, and support to capitalize on their proprietary development techniques.
The results of the trading session contributed to over 6789128 shares changing hands. Over the past one week, the price volatility of BitNile Holdings Inc. stands at 6.47% while the volatility over the past one month is 8.43%.
The market cap for NILE stock reached $103.22 million, with 289.67 million shares outstanding and 288.38 million shares in the current float. Compared to the average trading volume of 11.05M shares, NILE reached a trading volume of 6789128 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 $3.75 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 1.43. The Price to Book ratio for the last quarter was 0.26, with the Price to Cash per share for the same quarter was set at 0.13.
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 -0.10. With this latest performance, NILE shares dropped by -2.86% in over the last four-week period, additionally sinking by -70.13% over the last 6 months – not to mention a drop of -87.81% 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 44.81, with the RSI for the last a single of trading hit 42.08, and the three-weeks RSI is set at 45.94 for BitNile Holdings Inc. [NILE]. The present Moving Average for the last 50 days of trading for this stock 0.3137, while it was recorded at 0.2987 for the last single week of trading, and 0.7570 for the last 200 days.
BitNile Holdings Inc. [NILE]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and BitNile Holdings Inc. [NILE] shares currently have an operating margin of -34.27 and a Gross Margin at +54.47. BitNile Holdings Inc.’s Net Margin is presently recorded at -46.15.
Return on Equity for this stock declined to -17.58, with Return on Assets sitting at -8.55.
BitNile Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.90.
Insider trade positions for BitNile Holdings Inc. [NILE]
There are presently around $8 million, or 8.10% of NILE stock, in the hands of institutional investors. The top three institutional holders of NILE stocks are: VANGUARD GROUP INC with ownership of 15,295,433, which is approximately 300.498% of the company’s market cap and around 0.30% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 1,919,272 shares of the stock with an approximate value of $0.57 million in NILE stocks shares; and BLACKROCK INC., currently with $0.51 million in NILE stock with ownership of nearly 29.141% of the company’s market capitalization.
Positions in BitNile Holdings Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 16 institutional holders increased their position in BitNile Holdings Inc. [AMEX:NILE] by around 14,375,804 shares. Additionally, 27 investors decreased positions by around 3,408,689 shares, while 13 investors held positions by with 7,618,496 shares. The mentioned changes placed institutional holdings at 25,402,989 shares, according to the latest SEC report filing. NILE stock had 5 new institutional investments in for a total of 145,019 shares, while 9 institutional investors sold positions of 919,231 shares during the same period.