Tingo Group Inc. [TIO] Revenue clocked in at $51.20 million, up 71.08% YTD: What’s Next?

Tingo Group Inc. [NASDAQ: TIO] surged by $0.23 during the normal trading session on Thursday and reaching a high of $1.45 during the day while it closed the day at $1.42. The company report on April 13, 2023 that Tingo Group Regains Compliance with Nasdaq Minimum Bid Price Rule.

As announced on Monday, April 10, 2023, Tingo was previously notified by Nasdaq that it was not in compliance with the minimum bid price rule because its common stock failed to meet the closing bid price of $1.00 or more for 30 consecutive business days, as required by the Nasdaq Listing Rules. To regain compliance with the Rule, the Company was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days. This requirement was met on April 12, 2023, the tenth consecutive trading day of MICT’s common stock bid price closing above $1.00.

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Tingo Group Inc. stock has also gained 25.66% of its value over the past 7 days. However, TIO stock has inclined by 63.22% in the 3 months of the year. Over the past six months meanwhile, it has gained 122.43% and gained 71.08% year-on date.

The market cap for TIO stock reached $217.10 million, with 129.57 million shares outstanding and 108.84 million shares in the current float. Compared to the average trading volume of 441.75K shares, TIO reached a trading volume of 2500427 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 Tingo Group Inc. [TIO]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TIO shares is $6.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TIO stock is a recommendation set at 2.00. 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.

The Average True Range (ATR) for Tingo Group Inc. is set at 0.12, with the Price to Sales ratio for TIO stock in the period of the last 12 months amounting to 4.24. The Price to Book ratio for the last quarter was 1.56, with the Price to Cash per share for the same quarter was set at 0.45.

TIO stock trade performance evaluation

Tingo Group Inc. [TIO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 25.66. With this latest performance, TIO shares gained by 68.35% in over the last four-week period, additionally plugging by 122.43% over the last 6 months – not to mention a rise of 129.14% 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 TIO stock in for the last two-week period is set at 68.86, with the RSI for the last a single of trading hit 70.70, and the three-weeks RSI is set at 66.50 for Tingo Group Inc. [TIO]. The present Moving Average for the last 50 days of trading for this stock 0.9947, while it was recorded at 1.3000 for the last single week of trading, and 0.8430 for the last 200 days.

Tingo Group Inc. [TIO]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Tingo Group Inc. [TIO] shares currently have an operating margin of -7.98 and a Gross Margin at +40.54. Tingo Group Inc.’s Net Margin is presently recorded at -32.23.

Return on Equity for this stock declined to -6.41, with Return on Assets sitting at -5.06.

Tingo Group Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 4.90.

Tingo Group Inc. [TIO]: Insider Ownership positions

There are presently around $12 million, or 6.00% of TIO stock, in the hands of institutional investors. The top three institutional holders of TIO stocks are: VANGUARD GROUP INC with ownership of 4,741,177, which is approximately 1.713% of the company’s market cap and around 28.09% of the total institutional ownership; BLACKROCK INC., holding 1,961,945 shares of the stock with an approximate value of $2.33 million in TIO stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $1.21 million in TIO stock with ownership of nearly 4.293% of the company’s market capitalization.

Positions in Tingo Group Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 19 institutional holders increased their position in Tingo Group Inc. [NASDAQ:TIO] by around 727,922 shares. Additionally, 5 investors decreased positions by around 91,914 shares, while 8 investors held positions by with 9,205,797 shares. The mentioned changes placed institutional holdings at 10,025,633 shares, according to the latest SEC report filing. TIO stock had 9 new institutional investments in for a total of 339,592 shares, while 1 institutional investors sold positions of 80,635 shares during the same period.


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