Hollysys Automation Technologies Ltd [NASDAQ: HOLI] gained 0.51% on the last trading session, reaching $25.70 price per share at the time. The company report on February 8, 2024 at 5:52 AM that Hollysys Announces Shareholder Approval of Merger Agreement with Ascendent.
Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) (“Hollysys” or the “Company”) today announced that, at an extraordinary general meeting of shareholders (“EGM”) held today, the Company’s shareholders voted in favor of, among other things, the proposal to authorize and approve the agreement and plan of merger, dated as of December 11, 2023 (the “Merger Agreement”), by and among the Company and entities affiliated with Ascendent Capital Partners, Superior Technologies Holding Limited (“Parent”), and Superior Technologies Mergersub Limited (“Merger Sub”), pursuant to which, Merger Sub will merge with and into the Company, with the Company continuing as the surviving company and becoming a wholly owned subsidiary of Parent (the “Merger”), the articles of merger (the “Articles of Merger”) and the plan of merger (the “Plan of Merger”) to be filed with the Registrar of Corporate Affairs of the British Virgin Islands, and the transactions contemplated thereby, including the Merger.
Approximately 76.95% of the Company’s total issued and outstanding ordinary shares as of the close of business in the British Virgin Islands on the record date of December 28, 2023 voted in person or by proxy at the EGM. Of the ordinary shares voted at the EGM, approximately 86.94% voted in favor of the proposal to authorize and approve the Merger Agreement, the Articles of Merger, the Plan of Merger and the transactions contemplated thereby, including the Merger. The Merger Agreement, the Articles of Merger, the Plan of Merger and the transactions contemplated thereby, including the Merger, were therefore duly authorized and approved by resolutions as required by, and in compliance with, the BVI Business Companies Act (as amended) (the “BVI Act”).
If compared to the average trading volume of 1.24M shares, HOLI reached a trading volume of 2582850 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 $26.50 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 3.00. 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.
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 1.95. The Price to Book ratio for the last quarter was 1.33, with the Price to Cash per share for the same quarter was set at 11.38. Price to Free Cash Flow for HOLI in the course of the last twelve months was 552.24 with Quick ratio for the last quarter at 2.72.
Trading performance analysis for HOLI stock
Hollysys Automation Technologies Ltd [HOLI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.19. With this latest performance, HOLI shares dropped by -2.06% in over the last four-week period, additionally plugging by 47.53% over the last 6 months – not to mention a rise of 40.05% 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 54.88, with the RSI for the last a single of trading hit 56.25, and the three-weeks RSI is set at 56.23 for Hollysys Automation Technologies Ltd [HOLI]. The present Moving Average for the last 50 days of trading for this stock 25.27, while it was recorded at 25.55 for the last single week of trading, and 20.09 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%.
