Market cap of Luokung Technology Corp. [LKCO] reaches 76.21M – now what?

Luokung Technology Corp. [NASDAQ: LKCO] surged by $0.02 during the normal trading session on Monday and reaching a high of $0.195 during the day while it closed the day at $0.19. The company report on September 29, 2022 that Luokung Affiliate eMapgo has been Certified as Service Provider of the First Intelligent Transportation Pilot Applications Projects by Ministry of Transport of China.

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Luokung Technology Corp. (NASDAQ: LKCO) (“Luokung” or the “Company”), a leading spatial-temporal intelligent big data services company and provider of interactive location-based services (“LBS”) in China, today announced that the Company’s operating affiliate, eMapgo Technologies (Beijing) Co., Ltd. (“EMG”), a leading provider of navigation and electronic map services in China, has been approved by the Ministry of Transportation of China as the first intelligent transportation pilot applications projects (automatic driving and intelligent shipping direction) service provider to form the technical guidelines and industry standard based on pilot applications of V2X autonomous trucking on open highways. With this accomplishment, the Company plans to begin commercial implementation in the near future.

This project is led by Shandong Hi-Speed Group Co., Ltd. (“SDHS”), with joint participation of several enterprises including EMG, China National Heavy Duty Truck Group Co., Ltd and Datang Gaohong Company. Dr. Chuanjiu Wang, the Company’s intelligent transportation expert and the leader of China’s transportation information service industry, and his team is responsible for the overall design. By using the key part of Shandong highway and service zones held and operated by SDHS for trials, the project aims to conduct pragmatic commercialized applications for autonomous trucking, fleet management and intelligent logistics transit scenarios based on EMG’s V2X autonomous trucking management platform. This project is a significant demonstration of how intelligent transportation can help reduce logistics costs and improve traffic efficiency with lower labor intensity and higher stability of autonomous driving vehicles under adverse weather conditions, which we believe will promote the development of V2X and intelligent transportation in the industry. By leveraging the experience gained from this project, EMG, together with partners like SDHS, intend to actively promote commercialized  autonomous trucking and intelligent logistics transit services across the country.

Luokung Technology Corp. stock has also gained 9.59% of its value over the past 7 days. However, LKCO stock has declined by -7.91% in the 3 months of the year. Over the past six months meanwhile, it has lost -55.63% and lost -68.65% year-on date.

The market cap for LKCO stock reached $76.21 million, with 362.67 million shares outstanding and 360.56 million shares in the current float. Compared to the average trading volume of 1.08M shares, LKCO reached a trading volume of 5689534 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Luokung Technology Corp. [LKCO]:

The Average True Range (ATR) for Luokung Technology Corp. is set at 0.02, with the Price to Sales ratio for LKCO stock in the period of the last 12 months amounting to 0.53. The Price to Book ratio for the last quarter was 0.47, with the Price to Cash per share for the same quarter was set at 0.04.

LKCO stock trade performance evaluation

Luokung Technology Corp. [LKCO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.59. With this latest performance, LKCO shares gained by 25.13% in over the last four-week period, additionally sinking by -55.63% over the last 6 months – not to mention a drop of -74.91% 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 LKCO stock in for the last two-week period is set at 58.78, with the RSI for the last a single of trading hit 63.10, and the three-weeks RSI is set at 55.02 for Luokung Technology Corp. [LKCO]. The present Moving Average for the last 50 days of trading for this stock 0.1722, while it was recorded at 0.1742 for the last single week of trading, and 0.3489 for the last 200 days.

Luokung Technology Corp. [LKCO]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Luokung Technology Corp. [LKCO] shares currently have an operating margin of -43.86 and a Gross Margin at +5.60. Luokung Technology Corp.’s Net Margin is presently recorded at -47.43.

Return on Equity for this stock declined to -69.25, with Return on Assets sitting at -34.89.

Luokung Technology Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.

Luokung Technology Corp. [LKCO]: Insider Ownership positions

There are presently around $1 million, or 1.50% of LKCO stock, in the hands of institutional investors. The top three institutional holders of LKCO stocks are: SICART ASSOCIATES LLC with ownership of 3,980,941, which is approximately 0% of the company’s market cap and around 46.50% of the total institutional ownership; STATE STREET CORP, holding 999,257 shares of the stock with an approximate value of $0.19 million in LKCO stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $40000.0 in LKCO stock with ownership of nearly 0% of the company’s market capitalization.

5 institutional holders increased their position in Luokung Technology Corp. [NASDAQ:LKCO] by around 358,611 shares. Additionally, 6 investors decreased positions by around 208,434 shares, while 8 investors held positions by with 5,114,169 shares. The mentioned changes placed institutional holdings at 5,681,214 shares, according to the latest SEC report filing. LKCO stock had 3 new institutional investments in for a total of 237,476 shares, while 5 institutional investors sold positions of 96,927 shares during the same period.

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