Hollysys Automation Technologies Ltd [NASDAQ: HOLI] loss -1.21% or -0.31 points to close at $25.29 with a heavy trading volume of 4320285 shares. The company report on January 5, 2024 at 9:21 AM that Hollysys Announces Shareholder Meeting to Vote on Acquisition by Ascendent Capital Partners.
— Board recommends shareholders to vote “FOR” merger agreement for acquisition by Ascendent at $26.50/share.
Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) (“Hollysys” or the “Company”) today announced that it will hold an extraordinary general meeting (the “EGM”) of shareholders on Thursday, February 8, 2024 at 10:00 a.m. Hong Kong time, to consider and vote on, among other things, the proposal to authorize and approve the previously announced merger agreement (the “Merger Agreement”) pursuant to which a buyer controlled by Ascendent Capital Partners (“Ascendent”), an international private investment firm headquartered in Hong Kong, will acquire all outstanding shares of Hollysys that it does not currently own for US$26.50 per share in cash.
The daily chart for HOLI points out that the company has recorded 46.02% gains over the past six months.
If we look at the average trading volume of 1.14M shares, HOLI reached to a volume of 4320285 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 Hollysys Automation Technologies Ltd [HOLI]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HOLI shares is $24.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HOLI stock is a recommendation set at 2.50. 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.
JP Morgan have made an estimate for Hollysys Automation Technologies Ltd shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on August 03, 2021.
The Average True Range (ATR) for Hollysys Automation Technologies Ltd is set at 0.38, with the Price to Sales ratio for HOLI stock in the period of the last 12 months amounting to 2.07. The Price to Book ratio for the last quarter was 1.31, with the Price to Cash per share for the same quarter was set at 11.38.
Trading performance analysis for HOLI stock
Hollysys Automation Technologies Ltd [HOLI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.28. With this latest performance, HOLI shares dropped by -2.20% in over the last four-week period, additionally plugging by 46.02% over the last 6 months – not to mention a rise of 31.86% 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 HOLI stock in for the last two-week period is set at 45.69, with the RSI for the last a single of trading hit 31.66, and the three-weeks RSI is set at 53.15 for Hollysys Automation Technologies Ltd [HOLI]. The present Moving Average for the last 50 days of trading for this stock 24.62, while it was recorded at 25.62 for the last single week of trading, and 19.53 for the last 200 days.
Hollysys Automation Technologies Ltd [HOLI]: A deeper dive into fundamental analysis
Hollysys Automation Technologies Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.72 and a Current Ratio set at 3.01.
Hollysys Automation Technologies Ltd [HOLI]: An earnings per share (EPS) analysis
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 HOLI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Hollysys Automation Technologies Ltd go to 15.83%.
An analysis of Institutional ownership at Hollysys Automation Technologies Ltd [HOLI]
The top three institutional holders of HOLI stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in HOLI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in HOLI stock with ownership which is approximately 5.8325%.
