Taoping Inc. [NASDAQ: TAOP] price plunged by -1.10 percent to reach at -$0.02. The company report on November 8, 2023 at 9:00 AM that Taoping Awarded RMB15 Million Cloud-Based Data Analytics Services Contract; Expands Reach to Mining Industry.
Taoping Inc. (Nasdaq: TAOP, the “Company”), today announced the Company was awarded a RMB15 million contract to provide integrated, cloud-based data analytics services to Shenzhen Chuangzhi Tiancheng Tech Co Ltd. to facilitate the intelligent operation and management of its mining project located in Northwest China, while greatly improving operating efficiency and safety.
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Taoping’s integrated cloud-based solution leverages AI and the Company’s proprietary intelligent data collection and analysis platform to uncover and accelerate opportunities for intelligent operations and business management. This latest win for Taoping also expands the Company’s reach, representing the first application of the Company’s powerful new Cloud Nest AI system and intelligent cloud platform solutions in the mining industry.
A sum of 4583458 shares traded at recent session while its average daily volume was at 346.68K shares. Taoping Inc. shares reached a high of $2.28 and dropped to a low of $1.51 until finishing in the latest session at $1.79.
The one-year TAOP stock forecast points to a potential upside of 97.44. The average equity rating for TAOP stock is currently 1.00, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Taoping Inc. [TAOP]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TAOP shares is $70.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TAOP stock is a recommendation set at 1.00. 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 Taoping Inc. is set at 0.24, with the Price to Sales ratio for TAOP stock in the period of the last 12 months amounting to 0.10. The Price to Book ratio for the last quarter was 0.35, with the Price to Cash per share for the same quarter was set at 0.29.
TAOP Stock Performance Analysis:
Taoping Inc. [TAOP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.56. With this latest performance, TAOP shares dropped by -14.76% in over the last four-week period, additionally sinking by -71.59% over the last 6 months – not to mention a drop of -70.18% 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 TAOP stock in for the last two-week period is set at 40.31, with the RSI for the last a single of trading hit 43.08, and the three-weeks RSI is set at 38.77 for Taoping Inc. [TAOP]. The present Moving Average for the last 50 days of trading for this stock 2.1957, while it was recorded at 1.8280 for the last single week of trading, and 5.2214 for the last 200 days.
Insight into Taoping Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Taoping Inc. [TAOP] shares currently have an operating margin of -13.06 and a Gross Margin at +29.83. Taoping Inc.’s Net Margin is presently recorded at -2.40.
Return on Total Capital for TAOP is now -14.10, given the latest momentum, and Return on Invested Capital for the company is -3.95. Return on Equity for this stock declined to -4.03, with Return on Assets sitting at -1.53. When it comes to the capital structure of this company, Taoping Inc. [TAOP] has a Total Debt to Total Equity ratio set at 75.43. Additionally, TAOP Total Debt to Total Capital is recorded at 43.00, with Total Debt to Total Assets ending up at 24.83. Long-Term Debt to Equity for the company is recorded at 0.21, with the Long-Term Debt to Total Capital now at 0.12.
Reflecting on the efficiency of the workforce at the company, Taoping Inc. [TAOP] managed to generate an average of -$9,244 per employee. Receivables Turnover for the company is 2.89 with a Total Asset Turnover recorded at a value of 0.63.Taoping Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.49 and a Current Ratio set at 1.07.
TAOP Stock EPS
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 TAOP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Taoping Inc. go to 23.00%.
Taoping Inc. [TAOP] Institutonal Ownership Details
The top three institutional holders of TAOP stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in TAOP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in TAOP stock with ownership which is approximately 5.7994%.
