Borqs Technologies Inc. (NASDAQ:BRQS) saw an upside of 5.82% to $0.17 after adding $0.01 on Tuesday. The 5-day average trading volume is 2,411,357 shares of the company’s common stock. It has gained $0.2099 in the past week and touched a new high 2 times within the past 5 days. An average of 1,025,934 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,478,930.
BRQS’s 1-month performance is -15.40% or -$0.0220 on its low of $0.1549 reached on 08/16/23. The company’s shares have touched a 52-week low of $0.15 and high of $1.23, with the stock’s rally to the 52-week high happening on 02/06/23. YTD, BRQS has lost -18.69% or -$0.0370 and has reached a new high 9 times. However, the current price is down -86.24% from the 52-week high price.
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Valuation Metrics
Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.57.
Borqs Technologies Inc.’s quick ratio for the period ended June 30 was 0.60, with the current ratio over the same period at 0.70. In terms of profitability, the gross margin trailing 12 months is 21.20%. The firm’s gross profit as reported stood at $11.12 million against revenue of $52.54 million.
Earnings Surprise
For the quarterly period ending June 30 this year, Net income shrunk -64.18% to -$34.03 million, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected BRQS to announce $0 per share in earnings in its latest quarter, but it posted $1.12. BRQS stock balance sheet for the quarter ending June 30 shows that total liabilities totaled 66.05 million, with total debt at $3.01 million.
Let’s look briefly at Borqs Technologies Inc. (BRQS) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 21 August was 49.09% to suggest the stock is trending Neutral, with historical volatility in this time period at 60.19%.
The stock’s 5-day moving average is $0.1633, reflecting a +1.97% or $0.0033 change from its current price. BRQS is currently trading -12.70% above its 20-day SMA, -31.51% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -15.76% and SMA200 by-75.52%.
Stochastic %K and %D was 16.53% and 12.63% and the average true range (ATR) pointed at 0.0182. The RSI (14) points at 46.41%, while the 14-day stochastic is at 29.45% with the period’s ATR at 0.0177. The stock’s 9-day MACD Oscillator is pointing at -0.0012 and -0.0044 on the 14-day charts.
