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Is Luokung Technology Corp. (NASDAQ:LKCO), -584.21% Below Its High, Poised For A Strong Recovery?

In last trading session, Luokung Technology Corp. (NASDAQ:LKCO) saw 1.36 million shares changing hands with its beta currently measuring 0.45. Company’s recent per share price level of $0.19 trading at -$0.01 or -2.85% at ring of the bell on the day assigns it a market valuation of $81.96M. That closing price of LKCO’s stock is at a discount of -584.21% from its 52-week high price of $1.30 and from its 52-week low price of $0.19. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.95 million shares which gives us an average trading volume of 2.32 million if we extend that period to 3-months.

For Luokung Technology Corp. (LKCO), analysts’ consensus is at an average recommendation of a Buy. Splitting up the data highlights that, out of 1 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 1 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0 in the current quarter.

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Luokung Technology Corp. (NASDAQ:LKCO) trade information

Upright in the red during last session for losing -2.85%, in the last five days LKCO remained trading in the red while hitting it’s week-highest on Thursday, 09/15/22 when the stock touched $0.19 price level, adding 13.64% to its value on the day. Luokung Technology Corp.’s shares saw a change of -67.91% in year-to-date performance and have moved -7.96% in past 5-day. Luokung Technology Corp. (NASDAQ:LKCO) showed a performance of -13.26% in past 30-days. Number of shares sold short was 8.13 million shares which calculate 6.81 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $1.80 to the stock, which implies a rise of 89.44% to its current value. Analysts have been projecting $1.80 as a low price target for the stock while placing it at a high target of $1.80. It follows that stock’s current price would drop -847.37% in reaching the projected high whereas dropping to the targeted low would mean a loss of -847.37% for stock’s current value.

Luokung Technology Corp. (LKCO) estimates and forecasts

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -5.70% during past 5 years.

LKCO Dividends

Luokung Technology Corp. is more likely to be releasing its next quarterly report on December 02 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

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

Insiders are in possession of 12.97% of company’s total shares while institution are holding 3.62 percent of that, with stock having share float percentage of 4.16%. Investors also watch the number of corporate investors in a company very closely, which is 3.62% institutions for Luokung Technology Corp. that are currently holding shares of the company. Sicart Associates LLC is the top institutional holder at LKCO for having 3.98 million shares of worth $2.05 million. And as of Mar 30, 2022, it was holding 0.99% of the company’s outstanding shares.

The second largest institutional holder is State Street Corporation, which was holding about 0.86 million shares on Mar 30, 2022. The number of shares represents firm’s hold over 0.21% of outstanding shares, having a total worth of $0.44 million.

On the other hand, Invesco ETF Tr-Invesco Golden Dragon China ETF and SPDR Portfolio Emerging Markets ETF are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 0.55 million shares of worth $0.22 million or 0.14% of the total outstanding shares. The later fund manager was in possession of 0.32 million shares on Jun 29, 2022, making its stake of worth around $0.13 million in the company or a holder of 0.08% of company’s stock.

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