Is Luokung Technology Corp.’s (NASDAQ: LKCO) 4.47% Gain This Week Telling Us Something New? – Marketing Sentinel
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Is Luokung Technology Corp.’s (NASDAQ: LKCO) 4.47% Gain This Week Telling Us Something New?

During the last session, Luokung Technology Corp. (NASDAQ:LKCO)’s traded shares were 6.88 million, with the beta value of the company hitting 0.49. At the end of the trading day, the stock’s price was $0.25, reflecting an intraday gain of 3.46% or $0.01. The 52-week high for the LKCO share is $1.80, that puts it down -620.0 from that peak though still a striking 24.0% gain since the share price plummeted to a 52-week low of $0.19. The company’s market capitalization is $96.31M, and the average intraday trading volume over the past 10 days was 6.33 million shares, and the average trade volume was 1.97 million shares over the past three months.

Luokung Technology Corp. (NASDAQ:LKCO) trade information

Luokung Technology Corp. (LKCO) registered a 3.46% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 3.46% in intraday trading to $0.25 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 4.47%, and it has moved by -40.31% in 30 days. Based on these gigs, the overall price performance for the year is -81.95%. The short interest in Luokung Technology Corp. (NASDAQ:LKCO) is 8.13 million shares and it means that shorts have 6.81 day(s) to cover.

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The consensus price target of analysts on Wall Street is $1.80, which implies an increase of 86.11% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.80 and $1.80 respectively. As a result, LKCO is trading at a discount of -620.0% off the target high and -620.0% off the low.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -5.70%. While earnings are projected to return -14.40% in 2022.

LKCO Dividends

Luokung Technology Corp. is due to release its next quarterly earnings on December 02. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Luokung Technology Corp. (NASDAQ:LKCO)’s Major holders

Luokung Technology Corp. insiders own 12.97% of total outstanding shares while institutional holders control 3.62%, with the float percentage being 4.16%. Sicart Associates LLC is the largest shareholder of the company, while 18 institutions own stock in it. As of Mar 30, 2022, the company held over 3.98 million shares (or 0.99% of all shares), a total value of $2.05 million in shares.

The next largest institutional holding, with 0.86 million shares, is of State Street Corporation’s that is approximately 0.21% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $0.44 million.

Also, the Mutual Funds coming in first place with the largest holdings of Luokung Technology Corp. (LKCO) shares are Invesco ETF Tr-Invesco Golden Dragon China ETF and SPDR Portfolio Emerging Markets ETF. Data provided on Jun 29, 2022 indicates that Invesco ETF Tr-Invesco Golden Dragon China ETF owns about 0.55 million shares. This amounts to just over 0.14 percent of the company’s overall shares, with a $0.22 million market value. The same data shows that the other fund manager holds slightly less at 0.32 million, or about 0.08% of the stock, which is worth about $0.13 million.

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