SRAX Inc. [NASDAQ: SRAX] slipped around -0.98 points on Wednesday, while shares priced at $0.60 at the close of the session, down -62.03%. The company report on March 8, 2023 that SRAX Receives Delisting Notice from NASDAQ.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
Los Angeles, California–(Newsfile Corp. – March 8, 2023) – SRAX, Inc. (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS platform, announced that it received a delisting notice from NASDAQ after the close of the market on March 7, 2023.
The delisting notice states that the company’s shares will be suspended from trading on NASDAQ at the opening of business on March 9, 2023. The company’s shares will then move to the expert market on the OTC until the company is current on its financials. Once the company is current, it will then move to the PINK market. At that time, the company can evaluate how it would like to proceed. For more information on the OTC markets go to Otcmarkets.com.
SRAX Inc. stock is now -60.78% down from its year-to-date (YTD) trading value. SRAX Stock saw the intraday high of $1.6601 and lowest of $0.5755 per share. The company’s 52-week high price is 5.27, which means current price is +4.26% above from all time high which was touched on 02/01/23.
Compared to the average trading volume of 104.89K shares, SRAX reached a trading volume of 2841009 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about SRAX Inc. [SRAX]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SRAX shares is $6.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SRAX stock is a recommendation set at 1.70. 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.
B. Riley FBR have made an estimate for SRAX Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 06, 2020. While these analysts kept the previous recommendation, Chardan Capital Markets dropped their target price from $9 to $5. The new note on the price target was released on July 17, 2017, representing the official price target for SRAX Inc. stock. Previously, the target price had yet another raise to $9, while Chardan Capital Markets analysts kept a Buy rating on SRAX stock.
The Average True Range (ATR) for SRAX Inc. is set at 0.23, with the Price to Sales ratio for SRAX stock in the period of the last 12 months amounting to 0.53. The Price to Book ratio for the last quarter was 0.63, with the Price to Cash per share for the same quarter was set at 1.31.
How has SRAX stock performed recently?
SRAX Inc. [SRAX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -64.29. With this latest performance, SRAX shares dropped by -73.91% in over the last four-week period, additionally sinking by -72.60% over the last 6 months – not to mention a drop of -86.55% 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 SRAX stock in for the last two-week period is set at 18.23, with the RSI for the last a single of trading hit 11.55, and the three-weeks RSI is set at 24.40 for SRAX Inc. [SRAX]. The present Moving Average for the last 50 days of trading for this stock 1.8246, while it was recorded at 1.4320 for the last single week of trading, and 2.1567 for the last 200 days.
SRAX Inc. [SRAX]: Deeper insight into the fundamentals
SRAX Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.
Earnings analysis for SRAX Inc. [SRAX]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SRAX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for SRAX Inc. go to 15.00%.
Insider trade positions for SRAX Inc. [SRAX]
There are presently around $3 million, or 20.00% of SRAX stock, in the hands of institutional investors. The top three institutional holders of SRAX stocks are: BANK OF AMERICA CORP /DE/ with ownership of 2,047,548, which is approximately 4154.91% of the company’s market cap and around 18.34% of the total institutional ownership; VANGUARD GROUP INC, holding 945,630 shares of the stock with an approximate value of $0.57 million in SRAX stocks shares; and INTRINSIC EDGE CAPITAL MANAGEMENT LLC, currently with $0.29 million in SRAX stock with ownership of nearly -43.961% of the company’s market capitalization.
Positions in SRAX Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 11 institutional holders increased their position in SRAX Inc. [NASDAQ:SRAX] by around 2,771,988 shares. Additionally, 12 investors decreased positions by around 2,977,367 shares, while 8 investors held positions by with 720,792 shares. The mentioned changes placed institutional holdings at 5,028,563 shares, according to the latest SEC report filing. SRAX stock had 3 new institutional investments in for a total of 456,507 shares, while 5 institutional investors sold positions of 54,899 shares during the same period.