Wimi Hologram Cloud Inc ADR [NASDAQ: WIMI] traded at a high on Thursday, posting a 30.91 gain after which it closed the day’ session at $1.44. The company report on March 11, 2024 at 8:30 AM that WiMi Developed a Lightweight Multi-sectoral Data Sharing System Based on Consortium Blockchains.
WiMi Hologram Cloud Inc. (NASDAQ: WIMI) (“WiMi” or the “Company”), a leading global Hologram Augmented Reality (“AR”) Technology provider, today announced that it developed a lightweight multi-sectoral data-sharing system based on consortium blockchains. This system can connect data between different departments by creating a network of consortium blockchains and ensuring data security and privacy. In this process, data access and integration become a crucial step. This process involves collecting data from various sectors and integrating them into a unified data platform for subsequent analysis and sharing.
Consortium blockchain is a blockchain-based distributed ledger technology that allows multiple participants to share and manage data in a coalition. Compared to public chains, a consortium blockchain is more suitable for data-sharing scenarios between multiple sectors, as it offers higher performance and scalability and can be customized to meet different needs. The core value of consortium blockchains lies in cross-industry data sharing and collaboration. Through smart contracts, different departments can upload data to consortium blockchains, forming a decentralized storage network. Each node has a complete data backup to ensure that the data will not be tampered with or lost. Meanwhile, only authorized users can access the data on the chain, ensuring data privacy and security.
The results of the trading session contributed to over 54197356 shares changing hands. Over the past one week, the price volatility of Wimi Hologram Cloud Inc ADR stands at 12.01% while the volatility over the past one month is 14.62%.
The market cap for WIMI stock reached $110.38 million, with 76.65 million shares outstanding and 76.65 million shares in the current float. Compared to the average trading volume of 1.47M shares, WIMI reached a trading volume of 54197356 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Wimi Hologram Cloud Inc ADR [WIMI]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WIMI shares is $7.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WIMI 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 Benchmark Company have made an estimate for Wimi Hologram Cloud Inc ADR shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 30, 2020. The new note on the price target was released on July 13, 2020, representing the official price target for Wimi Hologram Cloud Inc ADR stock.
The Average True Range (ATR) for Wimi Hologram Cloud Inc ADR is set at 0.15, with the Price to Sales ratio for WIMI stock in the period of the last 12 months amounting to 1.50. The Price to Book ratio for the last quarter was 0.84, with the Price to Cash per share for the same quarter was set at 1.13.
How has WIMI stock performed recently?
Wimi Hologram Cloud Inc ADR [WIMI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 37.80. With this latest performance, WIMI shares gained by 56.18% in over the last four-week period, additionally plugging by 97.26% over the last 6 months – not to mention a rise of 42.57% 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 WIMI stock in for the last two-week period is set at 69.79, with the RSI for the last a single of trading hit 75.25, and the three-weeks RSI is set at 66.79 for Wimi Hologram Cloud Inc ADR [WIMI]. The present Moving Average for the last 50 days of trading for this stock 0.8983, while it was recorded at 1.1760 for the last single week of trading, and 0.8548 for the last 200 days.
Wimi Hologram Cloud Inc ADR [WIMI]: Deeper insight into the fundamentals
Wimi Hologram Cloud Inc ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.32 and a Current Ratio set at 6.33.
Insider trade positions for Wimi Hologram Cloud Inc ADR [WIMI]
The top three institutional holders of WIMI 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 WIMI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in WIMI stock with ownership which is approximately 5.8325%.
