Renaissance Technologies LLC recently announced the acquisition of new stake in Eqonex Limited (NASDAQ:EQOS). The institutional investor has increased its shareholding in the Financial company by 15.90% to 0.1 million shares with purchase of 14100.0 shares. This fresh investment now brings its stake to 0.22% valued currently at $48913.0. In addition, Citadel Securities LLC raised its holdings by 52334.0 to 94340.0 shares.
With over 4.21 million Eqonex Limited (EQOS) shares trading Tuesday and a closing price of $0.14 on the day, the dollar volume was approximately $0.59 million. The shares have shown a negative half year performance of -86.69% and its price on 11/22/22 lost nearly -32.81%. Currently, there are 46.96M common shares owned by the public and among those 34.36M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for EQOS have a consensus price objective of $0.50. The analysts have set the share’s price value over the next 12 months at a high of $0.50 and a low of $0.50. The average price target is 97.33% above its recent price level and an upside to the estimated low will see the stock gain 72.0% over that period. But an upside of 72.0% will see the stock hit the forecast high price target while median target price for the stock is $0.50.
Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Eqonex Limited are Arca Azioni Internazionali, Arca TE – Titoli Esteri, and LUX IM SICAV – ESG New Industrial. Arca Azioni Internazionali owns 63728.0 shares of the company’s stock, all valued at over $30335.0. The company bought an additional 63728.0 shares recently to bring their total holdings to about 0.14% of the shares outstanding. LUX IM SICAV – ESG New Industrial now owns shares totaling to 0.04% of the shares outstanding.
Shares of Eqonex Limited (NASDAQ: EQOS) opened at $0.18, down -$0.03 from a prior closing price of $0.21. However, the script later moved the day high at 0.1871, down -32.81%. The company’s stock has a 5-day price change of -52.43% and -74.35% over the past three months. EQOS shares are trading -92.45% year to date (YTD), with the 12-month market performance down to -96.76% lower. It has a 12-month low price of $0.15 and touched a high of $4.69 over the same period. EQOS has an average intraday trading volume of 747.49K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -63.94%, -63.47%, and -86.60% respectively.
Institutional ownership of Eqonex Limited (NASDAQ: EQOS) shares accounts for 2.40% of the company’s 46.96M shares outstanding. Mutual fund holders own 0.27%, while other institutional holders and individual stakeholders account for 2.14% and — respectively.
It has a market capitalization of $6.63M and a beta (3y monthly) value of 1.80. The earnings-per-share (ttm) stands at -$1.84. Price movements for the stock have been influenced by the stock’s volatility, which stands at 26.85% over the week and 20.30% over the month.
Analysts forecast that Eqonex Limited (EQOS) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for 2021. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Eqonex Limited (EQOS) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 2 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the EQOS, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on May 05, 2021, with the firm’s price target at $12.