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EpicQuest Education Group International Limited (NASDAQ: EEIQ) Offers Great Upside

EpicQuest Education Group International Limited (NASDAQ:EEIQ) shares, rose in value on Wednesday, 05/24/23, with the stock price up by 63.70% to the previous day’s close as strong demand from buyers drove the stock to $2.39.

Actively observing the price movement in the last trading, the stock closed the session at $1.46, falling within a range of $2.01 and $3.30. Referring to stock’s 52-week performance, its high was $3.63, and the low was $0.80. On the whole, EEIQ has fluctuated by 115.32% over the past month.

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Analysts have estimated the company’s revenue for the quarter at $6.33 million, with a low estimate of $6.33 million and a high estimate of $6.33 million. According to the average forecast, sales growth in current quarter could jump up 18.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2021, the company’s y-o-y revenues would reach $6.33 million, representing an increase of 18.50% 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 EEIQ’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Buy.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of EEIQ currently trading nearly 71.47% and 80.50% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 72.64, while the 7-day volatility ratio is showing 22.92% which for the 30-day chart, stands at 19.06%. Furthermore, EpicQuest Education Group International Limited (EEIQ)’s average true range (ATR) is 0.31. The company’s stock has been forecasted to trade at an average price of $2.50 over the course of the next 52 weeks, with a low of $2.50 and a high of $2.50. Based on these price targets, the low is -4.6% off current price, whereas the price has to move -4.6% to reach the yearly target high. Additionally, analysts’ median price of $2.50 is likely to be welcomed by investors because it represents a decrease of -4.6% from the current levels.

Data on historical trading for EpicQuest Education Group International Limited (NASDAQ:EEIQ) indicates that the trading volumes over the past 10 days have averaged 3.24 million and over the past 3 months, they’ve averaged 17.26K. According to company’s latest data on outstanding shares, there are 11.19 million shares outstanding.

Nearly 69.80% of EpicQuest Education Group International Limited’s shares belong to company insiders and institutional investors own 0.20% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 9640.0 shares as on Apr 27, 2023, resulting in a short ratio of 1.57. According to the data, the short interest in EpicQuest Education Group International Limited (EEIQ) stood at 0.08% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 14890.0. The stock has risen by 8.14% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the EEIQ stock heading into the next quarter.

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