Luokung Technology Corp. [LKCO] Stock trading around $0.14 per share: What’s Next?

Luokung Technology Corp. [NASDAQ: LKCO] traded at a low on 02/23/23, posting a -3.58 loss after which it closed the day’ session at $0.14. The company report on January 10, 2023 that Luokung Receives Nasdaq Listing Determination Company to Request Hearing.

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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”), today announced that on January 4, 2023, the Company received notice from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, based upon the Company’s non-compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the “Rule”) as of January 3, 2023, the Company’s securities would be delisted from Nasdaq unless the Company timely requests a hearing before the Nasdaq Hearings Panel.

The Company plans to timely request a hearing before the Panel, which request will stay any further delisting action by Nasdaq at least pending the hearing and the expiration of any extension that may be granted by the Panel following the hearing. There can be no assurance however that the Panel will grant the Company’s request for continued listing or that the Company will be able to evidence compliance with the Rule and all other applicable criteria for continued listing on Nasdaq within the period of time that may be granted by the Panel.

The results of the trading session contributed to over 3190978 shares changing hands. Over the past one week, the price volatility of Luokung Technology Corp. stands at 10.94% while the volatility over the past one month is 10.12%.

The market cap for LKCO stock reached $58.54 million, with 392.32 million shares outstanding and 256.08 million shares in the current float. Compared to the average trading volume of 2.11M shares, LKCO reached a trading volume of 3190978 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 0.34. The Price to Book ratio for the last quarter was 0.44, with the Price to Cash per share for the same quarter was set at 0.00.

How has LKCO stock performed recently?

Luokung Technology Corp. [LKCO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.45. With this latest performance, LKCO shares dropped by -24.32% in over the last four-week period, additionally sinking by -36.28% over the last 6 months – not to mention a drop of -79.54% 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 29.10, with the RSI for the last a single of trading hit 19.79, and the three-weeks RSI is set at 35.22 for Luokung Technology Corp. [LKCO]. The present Moving Average for the last 50 days of trading for this stock 0.1834, while it was recorded at 0.1537 for the last single week of trading, and 0.2514 for the last 200 days.

Luokung Technology Corp. [LKCO]: Deeper insight into the 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 0.50 and a Current Ratio set at 0.50.

Insider trade positions for Luokung Technology Corp. [LKCO]

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 5,730,941, which is approximately 43.959% of the company’s market cap and around 46.50% of the total institutional ownership; STATE STREET CORP, holding 1,047,347 shares of the stock with an approximate value of $0.15 million in LKCO stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $29000.0 in LKCO stock with ownership of nearly 0% of the company’s market capitalization.

8 institutional holders increased their position in Luokung Technology Corp. [NASDAQ:LKCO] by around 1,962,500 shares. Additionally, 4 investors decreased positions by around 196,377 shares, while 4 investors held positions by with 5,288,460 shares. The mentioned changes placed institutional holdings at 7,447,337 shares, according to the latest SEC report filing. LKCO stock had 2 new institutional investments in for a total of 42,266 shares, while 3 institutional investors sold positions of 196,176 shares during the same period.


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