Airspan Networks Holdings Inc. [AMEX: MIMO] gained 3.93% on the last trading session, reaching $0.13 price per share at the time. The company report on August 25, 2023 at 4:10 PM that Airspan Networks Holdings Inc. Announces NYSE Approval of Compliance Plan.
Airspan Networks Holdings Inc. (the “Company”) (NYSE American: MIMO), which provides ground-breaking, disruptive software and hardware for 5G networks, and is a pioneer in end-to-end Open RAN solutions, announced that on August 23, 2023, it received a letter from NYSE American LLC (“NYSE American”) stating that NYSE American reviewed and accepted the plan of compliance (the “Plan”) submitted by the Company in response to NYSE’s June 9, 2023 letter informing the Company that it was not in compliance with the continued listing standards set forth in Sections 1003(a)(i) and (ii) of the NYSE American Company Guide (the “Company Guide”). NYSE’s August 23 letter provides an extension for compliance with Sections 1003(a)(i) and (ii) of the NYSE American Company Guide until December 9, 2024. The NYSE American staff will review the Company periodically for compliance with the initiatives outlined in the Plan. If the Company is not in compliance with the continued listing standards by December 9, 2024, or if the Company does not make progress consistent with the Plan during the Plan period, the NYSE American staff will initiate delisting proceedings as appropriate.
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As previously disclosed, the Company also received written notice (the “Notice”) on July 10, 2023 from NYSE American stating that it is not in compliance with the continued listing standard set forth in Section 1003(f)(v) of the Company Guide because the Company’s common stock was selling for a substantial period of time at a low price per share, which NYSE American determined to be a 30-trading day average of less than $0.20 per share. The Notice stated that the Company’s continued listing is predicated on it effecting a reverse stock split of its common stock or otherwise demonstrating sustained price improvement within a reasonable period of time, which NYSE American has determined to be no later than January 10, 2024. However, NYSE American may take an accelerated delisting action that would pre-empt the cure period in the event that the common stock trades at a level viewed to be abnormally low. The Plan and the extension date referred to above do not apply to the January 10, 2024 deadline for the Company to comply with Section 1003(f)(v) of the Company Guide. The Company may elect to regain compliance with Section 1003(f)(v) of the Company Guide by effecting a reverse stock split if necessary.
Airspan Networks Holdings Inc. represents 74.58 million in outstanding shares, while the company has a total market value of $9.10 million with the latest information. MIMO stock price has been found in the range of $0.12 to $0.24.
If compared to the average trading volume of 3.10M shares, MIMO reached a trading volume of 26589701 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Airspan Networks Holdings Inc. [MIMO]:
Jefferies have made an estimate for Airspan Networks Holdings Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 25, 2022.
The Average True Range (ATR) for Airspan Networks Holdings Inc. is set at 0.03, with the Price to Sales ratio for MIMO stock in the period of the last 12 months amounting to 0.07.
Trading performance analysis for MIMO stock
Airspan Networks Holdings Inc. [MIMO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.94. With this latest performance, MIMO shares dropped by -13.61% in over the last four-week period, additionally sinking by -89.05% over the last 6 months – not to mention a drop of -95.12% 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 MIMO stock in for the last two-week period is set at 42.10, with the RSI for the last a single of trading hit 40.07, and the three-weeks RSI is set at 42.33 for Airspan Networks Holdings Inc. [MIMO]. The present Moving Average for the last 50 days of trading for this stock 0.1520, while it was recorded at 0.1258 for the last single week of trading, and 0.6878 for the last 200 days.
Airspan Networks Holdings Inc. [MIMO]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Airspan Networks Holdings Inc. [MIMO] shares currently have an operating margin of -39.90 and a Gross Margin at +39.04. Airspan Networks Holdings Inc.’s Net Margin is presently recorded at -51.05.
Return on Total Capital for MIMO is now -72.41, given the latest momentum, and Return on Invested Capital for the company is -623.64. Additionally, MIMO Total Debt to Total Capital is recorded at 229.18, with Total Debt to Total Assets ending up at 114.59.
Reflecting on the efficiency of the workforce at the company, Airspan Networks Holdings Inc. [MIMO] managed to generate an average of -$127,626 per employee. Receivables Turnover for the company is 3.20 with a Total Asset Turnover recorded at a value of 1.04.Airspan Networks Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.00.
An analysis of Institutional ownership at Airspan Networks Holdings Inc. [MIMO]
The top three institutional holders of MIMO stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in MIMO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in MIMO stock with ownership which is approximately 5.7381%.
