For Eqonex Limited [EQOS], Analyst sees a rise to $12. What next?

Eqonex Limited [NASDAQ: EQOS] traded at a low on 11/29/22, posting a -33.88 loss after which it closed the day’ session at $0.09. The company report on November 29, 2022 that EQONEX Announces Receipt of Nasdaq Delisting Notice and Suspension of Trading.

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The Company has requested a hearing before the Nasdaq Hearings Panel to appeal the Staff’s determination. The Company’s request, however, will not impact the upcoming suspension of trading in the Company’s securities.

The results of the trading session contributed to over 19139770 shares changing hands. Over the past one week, the price volatility of Eqonex Limited stands at 41.82% while the volatility over the past one month is 23.14%.

The market cap for EQOS stock reached $4.37 million, with 46.96 million shares outstanding and 43.92 million shares in the current float. Compared to the average trading volume of 815.92K shares, EQOS reached a trading volume of 19139770 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 0.06, with the Price to Sales ratio for EQOS stock in the period of the last 12 months amounting to 0.82. The Price to Book ratio for the last quarter was 0.93, 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 -55.67. With this latest performance, EQOS shares dropped by -80.92% in over the last four-week period, additionally sinking by -92.04% over the last 6 months – not to mention a drop of -97.86% 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 23.55, with the RSI for the last a single of trading hit 15.36, and the three-weeks RSI is set at 28.73 for Eqonex Limited [EQOS]. The present Moving Average for the last 50 days of trading for this stock 0.3517, while it was recorded at 0.1333 for the last single week of trading, and 1.0123 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 $0 million, or 2.40% 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 419,515, which is approximately -28.409% of the company’s market cap and around 6.48% of the total institutional ownership; INTRINSIC EDGE CAPITAL MANAGEMENT LLC, holding 140,000 shares of the stock with an approximate value of $13000.0 in EQOS stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $10000.0 in EQOS stock with ownership of nearly 15.904% of the company’s market capitalization.

Positions in Eqonex Limited stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 8 institutional holders increased their position in Eqonex Limited [NASDAQ:EQOS] by around 133,850 shares. Additionally, 8 investors decreased positions by around 688,414 shares, while 5 investors held positions by with 180,888 shares. The mentioned changes placed institutional holdings at 1,003,152 shares, according to the latest SEC report filing. EQOS stock had 3 new institutional investments in for a total of 14,683 shares, while 3 institutional investors sold positions of 60,373 shares during the same period.


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