During the last session, Tingo Group Inc. (NASDAQ:TIO)’s traded shares were 9.32 million, with the beta value of the company hitting 1.24. At the end of the trading day, the stock’s price was $4.63, reflecting an intraday loss of -3.14% or -$0.15. The 52-week high for the TIO share is $5.69, that puts it down -22.89 from that peak though still a striking 88.34% gain since the share price plummeted to a 52-week low of $0.54. The company’s market capitalization is $661.16M, and the average intraday trading volume over the past 10 days was 12.49 million shares, and the average trade volume was 3.11 million shares over the past three months.
Tingo Group Inc. (TIO) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.00. TIO has a Sell rating from 0 analyst(s) out of 1 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.28.
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Tingo Group Inc. (NASDAQ:TIO) trade information
Tingo Group Inc. (TIO) registered a -3.14% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -3.14% in intraday trading to $4.63 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -9.22%, and it has moved by 147.59% in 30 days. Based on these gigs, the overall price performance for the year is 556.92%. The short interest in Tingo Group Inc. (NASDAQ:TIO) is 5.94 million shares and it means that shorts have 2.82 day(s) to cover.
The consensus price target of analysts on Wall Street is $11.75, which implies an increase of 60.6% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $11.75 and $11.75 respectively. As a result, TIO is trading at a discount of -153.78% off the target high and -153.78% off the low.
Tingo Group Inc. (TIO) estimates and forecasts
Statistics show that Tingo Group Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Tingo Group Inc. (TIO) shares have gone up 387.37% during the last six months, with a year-to-date growth rate more than the industry average at 971.43% against 18.80. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 800.00% this quarter and then jump 487.50% in the quarter after that. In the rating firms’ projections, revenue will increase 3,071.30% compared to the previous financial year.
Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $915 million by the end of Jun 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $9.56 million and $11.96 million respectively.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 4.40%. While earnings are projected to return -12.40% in 2023.
Tingo Group Inc. is due to release its next quarterly earnings between August 21 and August 25. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Tingo Group Inc. (NASDAQ:TIO)’s Major holders
Tingo Group Inc. insiders own 26.20% of total outstanding shares while institutional holders control 5.96%, with the float percentage being 8.08%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 33 institutions own stock in it. As of Mar 30, 2023, the company held over 5.02 million shares (or 3.06% of all shares), a total value of $23.22 million in shares.
The next largest institutional holding, with 1.96 million shares, is of Blackrock Inc.’s that is approximately 1.20% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $9.08 million.
Also, the Mutual Funds coming in first place with the largest holdings of Tingo Group Inc. (TIO) shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 2.99 million shares. This amounts to just over 1.83 percent of the company’s overall shares, with a $13.86 million market value. The same data shows that the other fund manager holds slightly less at 1.53 million, or about 0.94% of the stock, which is worth about $7.09 million.