Takung Art Co. Ltd. (AMEX:TKAT) price on Wednesday, August 25, rose 56.39% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $11.01.
A look at the stock’s price movement, the close in the last trading session was $7.04, moving within a range at $6.51 and $12.73. The beta value (5-Year monthly) was 3.09. Turning to its 52-week performance, $74.11 and $0.78 were the 52-week high and 52-week low respectively. Overall, TKAT moved 89.83% over the past month.
Takung Art Co. Ltd.’s market cap currently stands at around $120.45 million, with investors looking forward to this quarter’s earnings report slated for Jun 29, 2020.
Analysts have a consensus estimate of $304k for the company’s revenue for the quarter, with a low and high estimate of $5.68 million and $5.68 million respectively. The average forecast suggests down to a -87.20% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2018 to grow to $8.49 million, representing a -34.30% decline on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that TKAT is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
TKAT’s current price about 73.82% and 10.78% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 66.33, while 7-day volatility ratio is 38.68% and 19.34% in the 30-day chart. Further, Takung Art Co. Ltd. (TKAT) has a beta value of 3.13, and an average true range (ATR) of 1.40. Analysts have given the company’s stock an average 52-week price target of $1.00, forecast between a low of $1.00 and high of $1.00. Looking at the price targets, the low is 90.92% off current price level while to achieve the yearly target high, price needs to move 90.92%. Nonetheless, investors will most likely welcome a 90.92% jump to $1.00 which is the analysts’ median price.
In the market, a comparison of Takung Art Co. Ltd. (TKAT) and its peers suggest the former has performed considerably stronger. Data shows TKAT’s intraday price has changed 56.39% in last session and 963.77% over the past year. Comparatively, Workday Inc. (WDAY) has moved 0.12% on the day and only 26.84% in the past 12 months. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 0.22% and 0.11% respectively in the last trading.
If we refocus on Takung Art Co. Ltd. (AMEX:TKAT), historical trading data shows that trading volumes averaged 3.65 million over the past 3 months. The company’s latest data on shares outstanding shows there are 11.58 million shares.
The 0.10% of Takung Art Co. Ltd.’s shares are in the hands of company insiders while institutional holders own 0.80% of the company’s shares. Current price change has pushed the stock 643.92% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the TKAT stock continues to rise going into the next quarter.