Datasea Inc [NASDAQ: DTSS] surged by $3.59 during the normal trading session on while it closed the day at $9.22. The company report on March 5, 2024 at 10:45 AM that Datasea Expects Approximately 1,128% Revenue Growth in 2024.
Datasea Inc. (NASDAQ: DTSS) (“Datasea” or the “Company”), a Nevada corporation engaged in innovative business segments for Acoustics Intelligence and 5G-AI multimodal communication technology in China and the US, issued guidance today for expecting a revenue of approximately $86.0 million for the Company’s full year ended June 30, 2024. This represents approximately a 1,128% increase from revenue of $7.0 million which was reported for fiscal year ended June 30, 2023.
Datasea’s CEO Zhixin Liu commented, “Our guidance of approximately $86.0 million in revenue is due to projected strong results from both of our business segments. We believe that we have taken steps to deepen our distribution channels which will be positive for our financial results. In addition, we are beginning to see excellent progress in the domestic sales and in penetrating the US market with our Acoustics Intelligence products as we are gradually witnessing remarkable advancements in sales both in the United States and China.”.
Datasea Inc stock has also gained 15.97% of its value over the past 7 days. However, DTSS stock has inclined by 238.05% in the 3 months of the year. Over the past six months meanwhile, it has gained 22.93% and gained 161.89% year-on date.
The market cap for DTSS stock reached $351.01 million, with 27.78 million shares outstanding and 21.55 million shares in the current float. Compared to the average trading volume of 1.81M shares, DTSS reached a trading volume of 15228846 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 Datasea Inc [DTSS]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DTSS shares is $22.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DTSS 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 Datasea Inc is set at 2.07, with the Price to Sales ratio for DTSS stock in the period of the last 12 months amounting to 14.82. The Price to Book ratio for the last quarter was 134.89, with the Price to Cash per share for the same quarter was set at 0.01.
DTSS stock trade performance evaluation
Datasea Inc [DTSS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.97. With this latest performance, DTSS shares gained by 315.84% in over the last four-week period, additionally plugging by 22.93% over the last 6 months – not to mention a drop of -47.46% 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 DTSS stock in for the last two-week period is set at 64.44, with the RSI for the last a single of trading hit 65.39, and the three-weeks RSI is set at 63.69 for Datasea Inc [DTSS]. The present Moving Average for the last 50 days of trading for this stock 3.82, while it was recorded at 7.33 for the last single week of trading, and 6.95 for the last 200 days.
Datasea Inc [DTSS]: An insightful look at the core fundamentals
Datasea Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.61 and a Current Ratio set at 1.68.
Datasea Inc [DTSS]: Institutional Ownership
The top three institutional holders of DTSS 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 DTSS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in DTSS stock with ownership which is approximately 5.8325%.
