Borqs Technologies Inc. (NASDAQ:BRQS) finished Friday with a subtraction of -$0.01 to close at $0.16, a downside of -3.83 percent. An average of 549,680 shares of common stock have been traded in the last five days. There was a fall of -$0.0089 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 710,970 shares traded, while the 50-day average volume stands at 1,297,660.
BRQS stock has decreased by -12.77% in the last month. The company shares reached their 1-month lowest point of $0.1623 on 08/11/23. With the stock rallying to its 52-week high on 02/06/23, shares of the company touched a low of $0.15 and a high of $1.44 in 52 weeks. It has reached a new high 9 times so far this year and lost -21.53% or -$0.0448 in price. In spite of this, the price is down -88.65% from the 52-week high.
Financial Health
The quick ratio of Borqs Technologies Inc. for the three months ended June 29 was 0.60, and the current ratio was 0.70, indicating that the company is not able to meet its debt obligations. Borqs Technologies Inc.’s EBITDA margin for the year ending June 29 is 1.76%, while its operating margin for the same period stands at -19.40%. Its gross profit as reported stood at $11.12 million compared to revenue of $52.54 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Borqs Technologies Inc.’s return on assets was -72.00%.
Earnings Surprise
The company posted a net income of -$34.03 million in the quarter, while revenues were shrunk -64.18%. The analyst consensus anticipated Borqs Technologies Inc.’s latest quarter earnings to come in at $0 per share, but it turned out to be $1.12.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Borqs Technologies Inc. (BRQS) price momentum. RSI 9-day as of the close on 11 August was 32.20%, suggesting the stock is Neutral, with historical volatility in this time frame at 66.37%.
As of today, BRQS’s price is $0.1700 -5.17% or -$0.0089 from its 5-day moving average. BRQS is currently trading -9.23% lower than its 20-day SMA and -30.81% lower than its 100-day SMA. However, the stock’s current price level is -24.61% below the SMA50 and -79.89% below the SMA200.
The stochastic %K and %D were 5.06% and 7.12%, respectively, and the average true range (ATR) was 0.0153. With the 14-day stochastic at 1.73% and the average true range at 0.0162, the RSI (14) stands at 36.90%. The stock has reached -0.0111 on the 9-day MACD Oscillator while the 14-day reading was at -0.0188.
Analyst Ratings
The consensus rating for Borqs Technologies Inc. (BRQS) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell BRQS, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 others rate it as a “buy”.
What is BRQS’s price target for the next 12 months?
Analysts predict a range of price targets between $192.00 and $192.00, with a median target of $192.00. Taking a look at these predictions, the average price target given by analysts for Borqs Technologies Inc. (BRQS) stock is $192.00.
