At the last check on Friday, Near Intelligence Inc.’s (NASDAQ:NIR) stock was up $0.03, moving up 7.58 percent to $0.41. The average number of shares traded per day over the past five days has been 322,973 shares. 2 times new highs have been achieved over the past 5 days, with a $0.0410 gain in that time frame. In the last twenty days, the average volume was 645,623, while in the previous 50 days, it was 788,433.
Since last month, NIR stock retreated -64.04%. Shares of the company fell to $0.3519 on 08/31/23, the lowest level in the past month. A 52-week high of $18.65 was reached on 03/24/23 after having rallying from a 52-week low of $0.35. Since the beginning of this year, NIR’s stock price has dropped by -96.00% or -$9.8010, and marked a new high 5 times. However, the stock has declined by -97.80% since its 52-week high.
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NIR stock investors should be aware that Near Intelligence Inc. (NIR) stock had its last reported insider trading activity 14 days ago on Aug 18. Petralia Kathryn, the Director of the company, purchased of 15,000 shares for $0.44 on Aug 18. It resulted in a $6,600 investment by the insider. Petralia Kathryn added 15,000 shares at an average price of $0.47 on Aug 17. The insider now owns 45,000 shares following the transaction. On May 25, Director Petralia Kathryn bought 10,000 shares at $1.98 apiece. The transaction was valued at $19,800.
Valuation Metrics
The stock’s beta is -0.18. Besides these, the trailing price-to-sales (P/S) ratio of 0.39, the price-to-book (PB) ratio of 3.15.
Financial Health
In the three months ended June 29, Near Intelligence Inc.’s quick ratio stood at 1.50, while its current ratio was 1.50, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 14.53, and the total debt-to-equity ratio was 15.37. On the profitability front, the trailing twelve-month gross margin is 23.20% percent. Based on annual data, NIR earned $9.31 million in gross profit and brought in $3.9 million in revenue.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. NIR’s revenue rose 100.0% to $15.51 million during the quarter, while net income inched up to $17.71 million. While analysts expected Near Intelligence Inc. to report -$0.35 quarterly earnings, the actual figure was -$0.19 per share, beating the consensus estimate by 45.70%. During the quarter, the company generated -$12.51 million in EBITDA. The liabilities of Near Intelligence Inc. were 157.77 million at the end of its most recent quarter ended June 29, and its total debt was $105.15 million. The value of shareholders’ equity is $51.75 million.
Technical Picture
This quick technical analysis looks at Near Intelligence Inc.’s (NIR) price momentum. With a historical volatility rate of 124.66%, the RSI 9-day stood at 35.84% on 31 August.
With respect to its five-day moving average, the current Near Intelligence Inc. price is up by +10.30% percent or $0.0410. At present, NIR shares trade -55.20% below its 20-day simple moving average and -85.37% percent below its 100-day simple moving average. However, the stock is currently trading approximately -74.33% below its SMA50 and -95.66% below its SMA200.
Stochastic coefficient K was 17.12% and Stochastic coefficient D was 8.01%, while ATR was 0.0780. Given the Stochastic reading of 41.85% for the 14-day period, the RSI (14) reading has been calculated as 30.67%. As of today, the MACD Oscillator reading stands at -0.0123, while the 14-day reading stands at -0.0292.
Analyst Ratings
Near Intelligence Inc. (NIR) has been rated Buy by analysts. According to 0 brokerage firms, NIR is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Near Intelligence Inc. stock as buy, with 2 recommending it as overweight.
With a median target price of $3.50, the current consensus forecast for the stock is $2.00 – $5.00. Based on these forecasts, analysts predict Near Intelligence Inc. (NIR) will achieve an average price target of $3.50.
