Tingo Group Inc. [NASDAQ: TIO] closed the trading session at $2.16 on 04/26/23. The day’s price range saw the stock hit a low of $1.90, while the highest price level was $2.21. The company report on April 26, 2023 at 8:00 AM that Tingo Mobile Signs Exclusive Agreement with Prime Commodity Exchange (PCX) and All Farmers Association of Nigeria (AFAN), Securing Considerable Produce Supply, Nationwide Warehousing Facilities and Enhanced Commodity Trading Opportunities.
Strategic Partnership Uniquely Positions Tingo to Monetize Nigeria’s Crop Ecosystem Across its Population of 213 Million and the Global Export Market.
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Tingo Mobile partners with PCX and AFAN (the “Partnership”), in the exclusive use of AFAN’s existing network of warehouses across Nigeria for a minimum term of 30 years.
The stocks have a year to date performance of 160.24 percent and weekly performance of 10.77 percent. The stock has been moved at 244.77 percent over the last six months. The stock has performed 166.67 percent around the most recent 30 days and changed 96.36 percent over the most recent 3-months.
If compared to the average trading volume of 840.76K shares, TIO reached to a volume of 4051509 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 0.20, with the Price to Sales ratio for TIO stock in the period of the last 12 months amounting to 2.46. The Price to Book ratio for the last quarter was 0.39, with the Price to Cash per share for the same quarter was set at 3.00. Price to Free Cash Flow for TIO in the course of the last twelve months was 56.21.
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 10.77. With this latest performance, TIO shares gained by 166.67% in over the last four-week period, additionally plugging by 244.77% over the last 6 months – not to mention a rise of 344.54% 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 TIO stock in for the last two-week period is set at 73.47, with the RSI for the last a single of trading hit 74.35, and the three-weeks RSI is set at 72.15 for Tingo Group Inc. [TIO]. The present Moving Average for the last 50 days of trading for this stock 1.1400, while it was recorded at 1.9000 for the last single week of trading, and 0.9000 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 2.00.
Tingo Group Inc. [TIO]: Insider Ownership positions
There are presently around $21 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 26.20% of the total institutional ownership; BLACKROCK INC., holding 1,961,945 shares of the stock with an approximate value of $4.24 million in TIO stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $2.2 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 487,922 shares. Additionally, 6 investors decreased positions by around 341,914 shares, while 8 investors held positions by with 8,955,797 shares. The mentioned changes placed institutional holdings at 9,785,633 shares, according to the latest SEC report filing. TIO stock had 9 new institutional investments in for a total of 99,592 shares, while 2 institutional investors sold positions of 330,635 shares during the same period.