COMSovereign Holding Corp. [NASDAQ: COMS] stock went on a downward path that fall over 0.00% on Friday, amounting to a one-week price decrease of less than -2.57%. The company report on November 18, 2022 that COMSovereign Receives Anticipated Additional Delinquency Notice from Nasdaq.
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COMSovereign Holding Corp. (NASDAQ: COMS and COMSP) (“COMSovereign” or the “Company”), a U.S.-based developer of 4G LTE Advanced and 5G communication systems and solutions, today announced that on November 16, 2022, the Company received notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company’s failure to timely file its Quarterly Report on Form 10-Q for the period ended September 30, 2022 (the “Q3 2022 Form 10-Q”), with the Securities and Exchange Commission (the “SEC”) could serve as an additional basis for delisting under Nasdaq Listing Rule 5250(c)(1) (the “Filing Requirement”).
The Company has already presented its plan to regain compliance with the Filing Requirement, including via the filing of the Q3 2022 Form 10-Q with the SEC, to a Nasdaq Hearings Panel (“the Panel”). At the hearing, the Company requested the continued listing of its securities on Nasdaq pending the Company’s compliance with all applicable listing criteria, including the Filing Requirement and the $1.00 bid price requirement, which remains under consideration by the Panel. There can be no assurance that the Panel will grant the Company’s request or that the Company will be able to timely satisfy the terms of any extension that may be granted by the Panel. COMSovereign intends to update the market promptly following receipt of the Panel’s determination.
Over the last 12 months, COMS stock dropped by -95.30%. The one-year COMSovereign Holding Corp. stock forecast points to a potential upside of 97.14. The average equity rating for COMS stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $10.47 million, with 161.23 million shares outstanding and 136.80 million shares in the current float. Compared to the average trading volume of 25.65M shares, COMS stock reached a trading volume of 21729608 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on COMSovereign Holding Corp. [COMS]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for COMS shares is $2.10 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on COMS 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 COMSovereign Holding Corp. is set at 0.01, with the Price to Sales ratio for COMS stock in the period of the last 12 months amounting to 0.83. The Price to Book ratio for the last quarter was 0.11, with the Price to Cash per share for the same quarter was set at 0.01.
COMS Stock Performance Analysis:
COMSovereign Holding Corp. [COMS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.57. With this latest performance, COMS shares dropped by -35.86% in over the last four-week period, additionally sinking by -74.75% over the last 6 months – not to mention a drop of -95.30% 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 COMS stock in for the last two-week period is set at 46.41, with the RSI for the last a single of trading hit 46.74, and the three-weeks RSI is set at 45.51 for COMSovereign Holding Corp. [COMS]. The present Moving Average for the last 50 days of trading for this stock 0.0767, while it was recorded at 0.0674 for the last single week of trading, and 0.2855 for the last 200 days.
Insight into COMSovereign Holding Corp. Fundamentals:
COMSovereign Holding Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.90.
COMSovereign Holding Corp. [COMS] Insider Position Details
There are presently around $0 million, or 3.60% of COMS stock, in the hands of institutional investors. The top three institutional holders of COMS stocks are: BUCKINGHAM STRATEGIC PARTNERS with ownership of 1,814,596, which is approximately New of the company’s market cap and around 15.16% of the total institutional ownership; VANGUARD GROUP INC, holding 1,718,915 shares of the stock with an approximate value of $0.11 million in COMS stocks shares; and MORGAN STANLEY, currently with $33000.0 in COMS stock with ownership of nearly -0.29% of the company’s market capitalization.
4 institutional holders increased their position in COMSovereign Holding Corp. [NASDAQ:COMS] by around 1,937,783 shares. Additionally, 15 investors decreased positions by around 1,150,341 shares, while 14 investors held positions by with 2,670,435 shares. The mentioned changes placed institutional holdings at 5,758,559 shares, according to the latest SEC report filing. COMS stock had 3 new institutional investments in for a total of 1,815,630 shares, while 6 institutional investors sold positions of 979,165 shares during the same period.