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Is Takung Art Co. Ltd. (AMEX: TKAT) A Good Investment Now?

Takung Art Co. Ltd. (AMEX:TKAT) shares, rose in value on Friday, 08/05/22, with the stock price down by -4.45% to the previous day’s close as strong demand from buyers drove the stock to $1.72.

Actively observing the price movement in the last trading, the stock closed the session at $1.80, falling within a range of $1.72 and $1.88. The value of beta (5-year monthly) was 3.01. Referring to stock’s 52-week performance, its high was $14.85, and the low was $1.55. On the whole, TKAT has fluctuated by -6.01% over the past month.

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With the market capitalization of Takung Art Co. Ltd. currently standing at about $43.05 million, investors are eagerly awaiting this quarter’s results, scheduled for Jun 29, 2020.

Analysts have estimated the company’s revenue for the quarter at $304k, with a low estimate of $5.68 million and a high estimate of $5.68 million. According to the average forecast, sales growth in current quarter could jump down -87.20%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2019, the company’s y-o-y revenues would reach $8.49 million, representing a decrease of -34.30% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that TKAT’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of TKAT currently trading nearly -1.91% and -5.09% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 47.17, while the 7-day volatility ratio is showing 7.08% which for the 30-day chart, stands at 6.52%. Furthermore, Takung Art Co. Ltd. (TKAT)’s beta value is 2.92, and its average true range (ATR) is 0.12. The company’s stock has been forecasted to trade at an average price of $1.00 over the course of the next 52 weeks, with a low of $1.00 and a high of $1.00. Based on these price targets, the low is 41.86% off current price, whereas the price has to move 41.86% to reach the yearly target high. Additionally, analysts’ median price of $1.00 is likely to be welcomed by investors because it represents an increase of 41.86% from the current levels.

A comparison of Takung Art Co. Ltd. (TKAT) with its peers suggests the former has fared considerably weaker in the market. TKAT showed an intraday change of -4.45% in last session, and over the past year, it shrunk by -74.21%%. In comparison, Workday Inc. (WDAY) has moved lower at -0.51% on the day and was down -31.48% over the past 12 months. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.16%. Meanwhile, the Dow Jones Industrial Improved by 0.23%.

Data on historical trading for Takung Art Co. Ltd. (AMEX:TKAT) indicates that the trading volumes over the past 10 days have averaged 0.14 million and over the past 3 months, they’ve averaged 180.06K. According to company’s latest data on outstanding shares, there are 14.37 million shares outstanding.

Nearly 21.81% of Takung Art Co. Ltd.’s shares belong to company insiders and institutional investors own 0.90% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.45 million shares as on Jul 14, 2022, resulting in a short ratio of 3.67. According to the data, the short interest in Takung Art Co. Ltd. (TKAT) stood at 1.82% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 0.24 million. The stock has fallen by -57.53% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the TKAT stock heading into the next quarter.

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