Taoping Inc. [TAOP] Stock trading around $1.44 per share: What’s Next?

Taoping Inc. [NASDAQ: TAOP] stock went on an upward path that rose over 39.81% on Wednesday, amounting to a one-week price increase of more than 34.58%. The company report on February 7, 2024 at 8:50 AM that Taoping Reports Record 78% Year-Over-Year Contract Revenue Growth for January.

Taoping Inc. (Nasdaq: TAOP, the “Company”), a developer of innovative smart cloud platform services and solutions, new media and artificial intelligence solutions, today reported 78% year-over-year growth in contract revenue for the month of January 2024. With a total value of RMB 25.8 million (approximately USD $3.6 million), the record monthly contract revenue level was driven by demand for the Company’s recently launched AI-related products and its innovative new off-grid wastewater treatment solution.

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The Company noted it expects the growth momentum to continue throughout the year as it benefits from increased demand led by its city partner ecosystem and comprehensive portfolio of AI-related products and its Smart City solutions.

Over the last 12 months, TAOP stock dropped by -81.54%. The one-year Taoping Inc. stock forecast points to a potential upside of 97.94. The average equity rating for TAOP stock is currently 1.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.25 million, with 1.56 million shares outstanding and 1.01 million shares in the current float. Compared to the average trading volume of 291.94K shares, TAOP stock reached a trading volume of 5785656 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 0.18, with the Price to Sales ratio for TAOP stock in the period of the last 12 months amounting to 0.08. The Price to Book ratio for the last quarter was 0.28, with the Price to Cash per share for the same quarter was set at 0.29.

TAOP Stock Performance Analysis:

Taoping Inc. [TAOP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 34.58. With this latest performance, TAOP shares gained by 22.03% in over the last four-week period, additionally sinking by -58.86% over the last 6 months – not to mention a drop of -81.54% 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 TAOP stock in for the last two-week period is set at 62.40, with the RSI for the last a single of trading hit 71.94, and the three-weeks RSI is set at 56.51 for Taoping Inc. [TAOP]. The present Moving Average for the last 50 days of trading for this stock 1.2806, while it was recorded at 1.1040 for the last single week of trading, and 3.4611 for the last 200 days.

Insight into Taoping Inc. Fundamentals:

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 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in TAOP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in TAOP stock with ownership which is approximately 5.8325%.