The trading price of Color Star Technology Co Ltd (NASDAQ:ADD) closed lower on current market day and closing at $0.84, -6.25% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $0.78 and $0.95. In examining the 52-week price action we see that the stock hit a 52-week high of $1.86 and a 52-week low of $0.17. Over the past month, the stock has gained 243.27% in value.
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Color Star Technology Co Ltd, whose market valuation is $43.07 million at the time of this writing, is expected to release its quarterly earnings report in September. Investors’ optimism about the company’s current quarter earnings report is understandable.
On the technical side, indicators suggest ADD 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.
A quick review shows that ADD’s price is currently 39.33% off the SMA20 and 128.78% off the SMA50. The RSI metric on the 14-day chart is currently showing 67.56, and weekly volatility stands at 24.90%. When measured over the past 30 days, the indicator reaches 30.64%. Color Star Technology Co Ltd (NASDAQ:ADD)’s beta value is currently sitting at 2.08, while the Average True Range indicator is currently displaying 0.13.
To see how Color Star Technology Co Ltd stock has been performing in comparison to its peers in the industry, here are the numbers: ADD stock’s performance was -6.25% in the latest trading, and -34.61% in the past year.
An evaluation of the daily trading volume of Color Star Technology Co Ltd (NASDAQ:ADD) indicates that the 3-month average is 1.98 million. However, this figure has increased over the past 10 days to an average of 3.34.
Currently, records show that 51.21 million of the company’s shares remain outstanding. The insiders hold 13.79% of outstanding shares, whereas institutions hold 1.20%. The stats also highlight that short interest as of 2024-07-31, stood at 1.25 million shares, resulting in a short ratio of 1.3 at that time. From this, we can conclude that short interest is 251.00 of the company’s total outstanding shares. It is noteworthy that short shares in July were up slightly from the previous month’s figure, which was 0.4 million. However, since the stock’s price has seen 127.30% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
