Borqs Technologies Inc. [BRQS] Revenue clocked in at $47.20 million, up 29.46% YTD: What’s Next?

Borqs Technologies Inc. [NASDAQ: BRQS] price surged by 12.34 percent to reach at $0.03. The company report on March 6, 2023 that Borqs Announces Preliminary Revenue Results for 2022, Achieving over 79% YoY Growth.

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The company expects total revenue for the year ended December 31, 2022 to be $53-58 million, increased by over 79% compared to $29.6 million for the year ended December 31, 2021, driven by increased IoT sales globally and revenues from Holu Hou Energy (HHE), our solar energy storage system subsidiary. While the revenue from the IoT business is expected to be more than 80% of the total revenue, the HHE’s revenue has also increased significantly. The company has not yet finalized its financial results for the full year ended December 31, 2022. These preliminary financial results reflect the company’s current estimates, based on information available to management as of the date of this release, and are subject to further changes upon completion of the company’s year-end closing and audit procedures.

A sum of 12350766 shares traded at recent session while its average daily volume was at 1.78M shares. Borqs Technologies Inc. shares reached a high of $0.3096 and dropped to a low of $0.246 until finishing in the latest session at $0.27.

Guru’s Opinion on Borqs Technologies Inc. [BRQS]:

The Average True Range (ATR) for Borqs Technologies Inc. is set at 0.03, with the Price to Sales ratio for BRQS stock in the period of the last 12 months amounting to 0.20.

BRQS Stock Performance Analysis:

Borqs Technologies Inc. [BRQS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.11. With this latest performance, BRQS shares dropped by -15.81% in over the last four-week period, additionally sinking by -77.36% over the last 6 months – not to mention a drop of -94.33% 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 BRQS stock in for the last two-week period is set at 47.81, with the RSI for the last a single of trading hit 51.96, and the three-weeks RSI is set at 45.72 for Borqs Technologies Inc. [BRQS]. The present Moving Average for the last 50 days of trading for this stock 0.2767, while it was recorded at 0.2461 for the last single week of trading, and 1.0281 for the last 200 days.

Insight into Borqs Technologies Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Borqs Technologies Inc. [BRQS] shares currently have an operating margin of -93.08 and a Gross Margin at +8.40. Borqs Technologies Inc.’s Net Margin is presently recorded at -188.98.

Borqs Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.70.

Borqs Technologies Inc. [BRQS] Insider Position Details

There are presently around $1 million, or 0.60% of BRQS stock, in the hands of institutional investors. The top three institutional holders of BRQS stocks are: MILLENNIUM MANAGEMENT LLC with ownership of 1,225,140, which is approximately 5297.093% of the company’s market cap and around 15.90% of the total institutional ownership; VIRTU FINANCIAL LLC, holding 350,046 shares of the stock with an approximate value of $94000.0 in BRQS stocks shares; and CITADEL ADVISORS LLC, currently with $71000.0 in BRQS stock with ownership of nearly 1241.167% of the company’s market capitalization.

Positions in Borqs Technologies Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 11 institutional holders increased their position in Borqs Technologies Inc. [NASDAQ:BRQS] by around 1,989,037 shares. Additionally, 3 investors decreased positions by around 31,252 shares, while 3 investors held positions by with 147,022 shares. The mentioned changes placed institutional holdings at 2,167,311 shares, according to the latest SEC report filing. BRQS stock had 7 new institutional investments in for a total of 198,663 shares, while 3 institutional investors sold positions of 31,252 shares during the same period.


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