The stock of Near Intelligence Inc. (NASDAQ:NIR) increased by $0.02 on Monday to finish at $0.58, up 2.89 percent. The last five days have seen an average of 1,209,000 shares of common stock traded. 5 times new highs were reached in the current year, with a fall of -$9.6638. The average number of shares traded over the last 20 days was 460,015, while the average volume over the last 50 days totaled 709,386.
NIR stock dropped -67.07% since last month. On 08/14/23, the company’s shares reached a one-month low of $0.4810. The stock touched a high of $18.65 on 03/24/23, after rallying from a low of $0.55 in 52 weeks. The price of NIR stock has declined by -94.37% or -$9.6638 this year, reaching a new high 5 times. Still, the stock price is down -96.91% from the 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Insider Transactions
NIR stock investors should be aware that Near Intelligence Inc. (NIR) stock had its last reported insider trading activity 82 days ago on May 25. On May 25, Director Petralia Kathryn acquired 10,000 shares at $1.98 each. This transaction resulted in the insider spending $19,800. On May 24, Greene Mark N added 21,277 shares at a price of US$2.00. After the transaction, the insider now owns 26,532 shares. Director Petralia Kathryn had earlier bought 20,000 shares on May 23 for $1.90 a share. The transaction was completed for $38,000.
Valuation Metrics
Beta for the stock is -0.15. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.50, the price-to-book (PB) ratio of 4.43.
Financial Health
For the recent quarter, Near Intelligence Inc.’s quick ratio was 1.50, while its current ratio was 1.50, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the recent quarter is 14.53, and the total debt to equity ratio is 15.37. Based on annual data, it had gross profit of $9.31 million and revenue of $3.9 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. There was a 123.30% return on investment (ROI) in the past year.
Earnings Surprise
Net income for the quarter came in at $15.51 million, while revenues rose by 100.0% to $0.0. EBITDA was -$18.93 million for the quarter. At the end of Near Intelligence Inc.’s most recent quarter, its liabilities totaled 160.65 million, while its total debt was $99.35 million. Equity owned by shareholders amounts to $50.26 million.
Technical Picture
Here’s a quick look at Near Intelligence Inc.’s (NIR) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 15.11%, suggesting the stock is oversold, with a 77.16% historical volatility rate.
The stochastic %K and %D were 3.66% and 2.33% respectively, while the average true range (ATR) was 0.1675. Based on the 14-day stochastic reading of 8.51%, the RSI (14) reading is 22.46%. On the 9-day MACD Oscillator, the stock is at -0.2386, and the 14-day reading is at -0.4732.
Analyst Ratings
Analysts have assigned Near Intelligence Inc. (NIR) an Buy rating. NIR is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 2 others recommend it as a buy.
What is NIR’s price target for the next 12 months?
The current consensus forecast for the stock is between $3.00 and $7.00, with a median target price of $5.00. In analyzing these forecasts, the average price target given by analysts for Near Intelligence Inc. (NIR) is $5.00.
