Market Analysts see Eqonex Limited [EQOS] gaining to $12. Time to buy?

Eqonex Limited [NASDAQ: EQOS] traded at a high on 10/18/22, posting a 35.07 gain after which it closed the day’ session at $0.35. The company report on October 7, 2022 that Digital asset custodian Digivault launches ExchangeConnect, a new service to safeguard crypto assets when trading on exchanges.

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Digivault ExchangeConnect now available on Bitfinex.

FCA-registered crypto custodian Digivault, part of the EQONEX Group (Nasdaq: EQOS) today launched Digivault ExchangeConnect, a new service that enables clients to safely hold their assets within their Digivault FCA-registered custody account whilst trading with them on an exchange. Digivault ExchangeConnect is now available on Bitfinex with more exchanges planned.

The results of the trading session contributed to over 23531598 shares changing hands. Over the past one week, the price volatility of Eqonex Limited stands at 28.13% while the volatility over the past one month is 12.77%.

The market cap for EQOS stock reached $16.55 million, with 46.96 million shares outstanding and 34.36 million shares in the current float. Compared to the average trading volume of 238.97K shares, EQOS reached a trading volume of 23531598 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 $5.25 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 0.05, with the Price to Sales ratio for EQOS stock in the period of the last 12 months amounting to 3.12. The Price to Book ratio for the last quarter was 3.52, with the Price to Cash per share for the same quarter was set at 0.15.

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 -4.76. With this latest performance, EQOS shares dropped by -16.08% in over the last four-week period, additionally sinking by -79.51% over the last 6 months – not to mention a drop of -90.29% 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 41.54, with the RSI for the last a single of trading hit 46.11, and the three-weeks RSI is set at 39.39 for Eqonex Limited [EQOS]. The present Moving Average for the last 50 days of trading for this stock 0.4991, while it was recorded at 0.3114 for the last single week of trading, and 1.2333 for the last 200 days.

Eqonex Limited [EQOS]: Deeper insight into the fundamentals

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 $0.19 million in EQOS stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $31000.0 in EQOS stock with ownership of nearly 184.163% of the company’s market capitalization.

6 institutional holders increased their position in Eqonex Limited [NASDAQ:EQOS] by around 146,564 shares. Additionally, 18 investors decreased positions by around 1,472,707 shares, while 3 investors held positions by with 61,555 shares. The mentioned changes placed institutional holdings at 1,557,716 shares, according to the latest SEC report filing. EQOS stock had 3 new institutional investments in for a total of 82,080 shares, while 9 institutional investors sold positions of 1,364,077 shares during the same period.


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