Lytus Technologies Holdings PTV Ltd [NASDAQ: LYT] stock went on an upward path that rose over 8.54% on Thursday, amounting to a one-week price decrease of less than -16.10%. The company report on September 14, 2023 at 8:05 AM that LYTUS TECHNOLOGIES LAUNCHES LYTUS STUDIOS.
The setting up of Lytus Studios is a natural progression for LYTUS Technologies to serve its own content needs and to take forward its vision of transforming customer experiences with technology. With Lytus Technologies’ existing customer network in India and associations in Asia, Middle East & Europe, the company plans to provide content services in the USA and in all major entertainment markets of the world. LYTUS STUDIOS is also building a unique video streaming service, LYTUS PLAY. This service will initially be offered to Lytus Technologies’ current million + users in India while launching the service concurrently in the USA. LYTUS PLAY will feature advanced personalization technology where users can feed their health goals with preferences and get curated programs and content to manage their lifestyle. LYTUS STUDIOS will be producing all the original content for the LYTUS PLAY streaming platform in its Hollywood studios. LYTUS STUDIOS will partner and collaborate with some of the best organizations in the USA that are leaders in technology and creative content creation. Lytus Technologies CEO Dharmesh Pandya said, “We are very keen to expand technology services that are transformative. With LYTUS STUDIOS we will be able to enhance the entertainment experience of our global customers by creating curated content for our upcoming platforms and for the global entertainment world.” Lytus Technologies – Director, Rajeev Kheror added, “Film & video content markets are changing and top-quality content is a necessity for market share. LYTUS STUDIOS will create cutting edge content and serve the best industry standards of global entertainment by merging creativity and technology with our full-fledged infrastructure facilities. The company already has a content pipeline for its upcoming streaming service that will be created at these studios.” About Lytus Technologies Holdings Ptv. Ltd: Lytus Technologies is a rapidly expanding technology-driven internet platform services organisation with operations in India and USA. The company offers high-value streaming and telemedicine services to over 4 million active users and monthly customers across India and USA. Lytus Technologies is a listed company under the ticker symbol “LYT” on the Nasdaq Capital Market. Through its 5,000-kilometer network of installed fibre and broadband infrastructure, the firm delivers fibre and broadband services to its client base. Currently, Lytus Technologies has nationwide Telecast and Multicast services in India providing retail and commercial customers monthly subscription-based linear video and Internet services.
Over the last 12 months, LYT stock dropped by -91.85%.
The market cap for the stock reached $15.28 million, with 182.11 million shares outstanding and 37.44 million shares in the current float. Compared to the average trading volume of 8.66M shares, LYT stock reached a trading volume of 6525418 in the most recent trading day, which is why market watchdogs consider the stock to be active.
LYT Stock Performance Analysis:
Lytus Technologies Holdings PTV Ltd [LYT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.10. With this latest performance, LYT shares dropped by -17.18% in over the last four-week period, additionally sinking by -79.30% over the last 6 months – not to mention a drop of -91.85% 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 LYT stock in for the last two-week period is set at 41.47, with the RSI for the last a single of trading hit 41.60, and the three-weeks RSI is set at 41.26 for Lytus Technologies Holdings PTV Ltd [LYT]. The present Moving Average for the last 50 days of trading for this stock 0.1131, while it was recorded at 0.0838 for the last single week of trading, and 0.3167 for the last 200 days.
Lytus Technologies Holdings PTV Ltd [LYT] Institutonal Ownership Details
The top three institutional holders of LYT 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 LYT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in LYT stock with ownership which is approximately 5.8325%.
