Singularity Future Technology Ltd [NASDAQ: SGLY] traded at a high on Tuesday, posting a 34.19 gain after which it closed the day’ session at $4.16. The company report on January 30, 2024 at 4:01 PM that Singularity Future Technology Announces 1-for-10 Reverse Stock Split.
At the Company’s annual meeting of stockholders on October 18, 2023, the stockholders approved a proposal to amend the Company’s Amended and Restated Articles of Incorporation to effect a reverse split of the Company’s outstanding common stock at a ratio in the range of 1-for-2 to 1-for-10 to be determined at the discretion of the Board of Directors, whereby each outstanding 2 to 10 shares would be combined, converted and changed into 1 share of Common Stock.
The results of the trading session contributed to over 23637786 shares changing hands. Over the past one week, the price volatility of Singularity Future Technology Ltd stands at 22.81% while the volatility over the past one month is 15.95%.
The market cap for SGLY stock reached $14.35 million, with 3.45 million shares outstanding and 3.45 million shares in the current float. Compared to the average trading volume of 22.52K shares, SGLY reached a trading volume of 23637786 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Singularity Future Technology Ltd [SGLY]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SGLY shares is $1.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SGLY 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 Singularity Future Technology Ltd is set at 0.58, with the Price to Sales ratio for SGLY stock in the period of the last 12 months amounting to 3.90. The Price to Book ratio for the last quarter was 0.93, with the Price to Cash per share for the same quarter was set at 1.78.
How has SGLY stock performed recently?
Singularity Future Technology Ltd [SGLY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 79.70. With this latest performance, SGLY shares dropped by -9.35% in over the last four-week period, additionally sinking by -21.08% over the last 6 months – not to mention a drop of -27.02% 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 SGLY stock in for the last two-week period is set at 61.85, with the RSI for the last a single of trading hit 74.21, and the three-weeks RSI is set at 55.02 for Singularity Future Technology Ltd [SGLY]. The present Moving Average for the last 50 days of trading for this stock 4.39, while it was recorded at 3.01 for the last single week of trading, and 4.90 for the last 200 days.
Singularity Future Technology Ltd [SGLY]: Deeper insight into the fundamentals
Singularity Future Technology Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.50.
Insider trade positions for Singularity Future Technology Ltd [SGLY]
The top three institutional holders of SGLY 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 SGLY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SGLY stock with ownership which is approximately 5.8325%.
