The trading price of Taoping Inc. (NASDAQ:TAOP) closed higher on Friday, Feb 19, closing at $5.76, 22.22% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $6.21 and $9.69. The company’s P/E ratio in the trailing 12-month period was 0, while its 5Y monthly beta was 0.99. In examining the 52-week price action we see that the stock hit a 52-week high of $15 and a 52-week low of $1.86. Over the past month, the stock has gained 128.57% in value.
On the technical side, indicators suggest TAOP has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned TAOP a recommendation rating is 1. Out of them, 1 rate it a Hold, while none recommend Buy, whereas none assign an Outperform rating. None analyst(s) have tagged Taoping Inc. (TAOP) as Underperform, while not any of them advise Sell. Analysts have rated the stock Hold, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0, which symbolizes a positive outlook. A quick review shows that TAOP’s price is currently 81.21% off the SMA20 and 112.85% off the SMA50. The RSI metric on the 14-day chart is currently showing 88.33, and weekly volatility stands at 23.86%. When measured over the past 30 days, the indicator reaches 14.97%. Taoping Inc. (NASDAQ:TAOP)’s beta value is currently sitting at 0.99, while the Average True Range indicator is currently displaying 0.73. With analysts defining $12-$12 as the low and high price targets, we arrive at a consensus price target of $12 for the trailing 12-month period. The current price is about 70.45% off the estimated low and 70.45% off the forecast high, based on this estimate. Investors will be thrilled if TAOP’s share price rises to $12, which is the median consensus price. At that level, TAOP’s share price would be +70.45% above current price.
To see how Taoping Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: TAOP stock’s performance was +22.22% in the latest trading, and +95.59% in the past year, while Alphabet Cl C (GOOG) has traded -0.76% on the day and positioned +38.4% higher than it was a year ago. Another comparable company Alphabet Cl A (GOOGL) saw its stock close -0.81% lower in the most recent trading session but was up +37.69% in a year. Furthermore, Facebook Inc (FB) showed an increase of 22.22% on the day while its price kept rising at 95.59% over the past year. Taoping Inc. has a P/E ratio of 0, compared to Alphabet Cl C’s 35.85 and Alphabet Cl A’s 36.6. Also in last trading session, the S&P 500 Index has soared -0.19%, while the Dow Jones Industrial also saw a negative seesion, down 0% on the day.
An evaluation of the daily trading volume of Taoping Inc. (NASDAQ:TAOP) indicates that the 3-month average is 657.71 Million. However, this figure has declined over the past 10 days to an average of 3.35 Million.
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Currently, records show that 8.49 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 39.21% of outstanding shares, whereas institutions hold 1.64%. The stats also highlight that short interest as of January 28, 2021, stood at 6.79 Million shares, resulting in a short ratio of 0.01 at that time. From this, we can conclude that short interest is 0.08% of the company’s total outstanding shares. It is noteworthy that short shares in January were down slightly from the previous month’s figure, which was 14.66 Million. However, since the stock’s price has seen +147.89% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.