Infobird Co Ltd [NASDAQ: IFBD] surged by $0.73 during the normal trading session on while it closed the day at $1.36. The company report on December 18, 2023 at 5:00 PM that INFOBIRD CO., LTD ANNOUNCES NEW BUSINESS COOPERATION IN INFORMATION TECHNOLOGY SYSTEM SOFTWARE DEVELOPMENT.
Infobird Co., Ltd (NASDAQ: IFBD) (“Infobird” or the “Company”), a software-as-a-service provider of AI-powered customer engagement solutions in China, today announced that a new business cooperation in software development of information technology system has been signed.
Recently, Infobird Technologies Limited (hereinafter referred to as “Infobird HK”) and a company signed a new business contract, aiming to cooperate in software and IT system development, with a total value of US$1.8 million. The principal business of counterparty is Gig Economy Platform of localized life services. Henceforth, Infobird will intensify the investment in research and development of SaaS systems and software technologies and commit to explore more SaaS technologies applicable scenarios to help clients with business expansion.
Infobird Co Ltd stock has also gained 158.56% of its value over the past 7 days. However, IFBD stock has declined by -33.91% in the 3 months of the year. Over the past six months meanwhile, it has lost -92.84% and gained 3.82% year-on date.
The market cap for IFBD stock reached $9.34 million, with 6.87 million shares outstanding and 6.85 million shares in the current float. Compared to the average trading volume of 668.99K shares, IFBD reached a trading volume of 4401772 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 Infobird Co Ltd [IFBD]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IFBD shares is $1247.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IFBD 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 Infobird Co Ltd is set at 0.19, with the Price to Sales ratio for IFBD stock in the period of the last 12 months amounting to 3.19. The Price to Book ratio for the last quarter was 1.00, with the Price to Cash per share for the same quarter was set at 0.99.
IFBD stock trade performance evaluation
Infobird Co Ltd [IFBD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 158.56. With this latest performance, IFBD shares gained by 3.82% in over the last four-week period, additionally sinking by -92.84% over the last 6 months – not to mention a drop of -98.83% 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 IFBD stock in for the last two-week period is set at 68.71, with the RSI for the last a single of trading hit 79.59, and the three-weeks RSI is set at 59.02 for Infobird Co Ltd [IFBD]. The present Moving Average for the last 50 days of trading for this stock 1.0808, while it was recorded at 0.7321 for the last single week of trading, and 12.5009 for the last 200 days.
Infobird Co Ltd [IFBD]: An insightful look at the core fundamentals
Infobird Co Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.36 and a Current Ratio set at 1.36.
Infobird Co Ltd [IFBD]: Institutional Ownership
The top three institutional holders of IFBD 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 IFBD stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in IFBD stock with ownership which is approximately 5.8325%.
