BitNile Holdings Inc. [AMEX: NILE] loss 0.00% or 0.0 points to close at $0.14 with a heavy trading volume of 4303964 shares. The company report on November 28, 2022 that BitNile Holdings Contemplates Exchange Offer to Acquire Shares of Its Common Stock.
BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile” or the “Company”), today announced that the Company is considering undertaking an exchange offer (the “Offer”) whereby it would offer debt in the form of notes in exchange for between $50 and $75 million of common stock. If the Company proceeds with the Offer, the Company presently intends to commence the Offer in early 2023 and its terms will be contained in an Offer to Exchange. If the Offer proceeds, the Company intends to apply to list the notes on the NYSE American Exchange. Until such time as the notes are listed on the NYSE American, trading in the notes will occur on the OTC.
The Offer will not be made to any person in any jurisdiction in which either the Offer, or solicitation or sale thereof, is unlawful. Any Offer will be made only by means of the Offer to Exchange. It is anticipated that the Offer will be made pursuant to the exemption from registration requirements of the Securities Act of 1933, as amended, contained in Section 3(a)(9) thereof. Under that exemption, if Common Stock exchanged is freely tradeable, the notes received in exchange therefor will be freely tradeable. If the Common Stock is restricted, the notes will be restricted to the same degree.
It opened the trading session at $0.13, the shares rose to $0.14 and dropped to $0.13, the range by which the price of stock traded the whole day. The daily chart for NILE points out that the company has recorded -64.53% loss over the past six months. However, it is still -16.67% lower than its most recent low trading price.
If we look at the average trading volume of 6.16M shares, NILE reached to a volume of 4303964 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 0.01, with the Price to Sales ratio for NILE stock in the period of the last 12 months amounting to 1.51. The Price to Book ratio for the last quarter was 0.12, with the Price to Cash per share for the same quarter was set at 0.07.
Trading performance analysis for NILE stock
BitNile Holdings Inc. [NILE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.66. With this latest performance, NILE shares dropped by -20.59% in over the last four-week period, additionally sinking by -64.53% over the last 6 months – not to mention a drop of -92.50% 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 39.77, with the RSI for the last a single of trading hit 40.77, and the three-weeks RSI is set at 38.94 for BitNile Holdings Inc. [NILE]. The present Moving Average for the last 50 days of trading for this stock 0.1684, while it was recorded at 0.1389 for the last single week of trading, and 0.3838 for the last 200 days.
BitNile Holdings Inc. [NILE]: A deeper dive into fundamental analysis
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 1.00 and a Current Ratio set at 1.30.
An analysis of insider ownership at BitNile Holdings Inc. [NILE]
There are presently around $4 million, or 7.90% of NILE stock, in the hands of institutional investors. The top three institutional holders of NILE stocks are: VANGUARD GROUP INC with ownership of 13,549,628, which is approximately -11.414% of the company’s market cap and around 0.50% of the total institutional ownership; GSA CAPITAL PARTNERS LLP, holding 2,978,381 shares of the stock with an approximate value of $0.4 million in NILE stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.32 million in NILE stock with ownership of nearly 24.199% of the company’s market capitalization.
Positions in BitNile Holdings Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 24 institutional holders increased their position in BitNile Holdings Inc. [AMEX:NILE] by around 3,980,873 shares. Additionally, 20 investors decreased positions by around 2,772,100 shares, while 16 investors held positions by with 19,880,184 shares. The mentioned changes placed institutional holdings at 26,633,157 shares, according to the latest SEC report filing. NILE stock had 11 new institutional investments in for a total of 879,635 shares, while 8 institutional investors sold positions of 177,705 shares during the same period.