Why Shares of Luokung Technology Corp. (LKCO) Are Going Crazy

Luokung Technology Corp. (NASDAQ: LKCO) is -62.21% lower on its value in year-to-date trading and has touched a low of $0.34 and a high of $10.50 in the current 52-week trading range. The LKCO stock was last observed hovering at around $0.67 in the last trading session, with the day’s loss setting it -0.05%.

Currently trading at $0.62, the stock is -14.46% and -2.19% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.2 million and changing -8.73% at the moment leaves the stock -39.67% off its SMA200. LKCO registered -93.32% loss for a year compared to 6-month loss of -35.39%. The firm has a 50-day simple moving average (SMA 50) of $0.6760 and a 200-day simple moving average (SMA200) of $0.7147.

The stock witnessed a -4.20% gain in the last 1 month and extending the period to 3 months gives it a 23.69%, and is -19.90% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 14.95% over the week and 16.99% over the month.

Luokung Technology Corp. (LKCO) has around 182 employees, a market worth around $138.35M and $18.80M in sales. Distance from 52-week low is 81.18% and -94.14% from its 52-week high. The company has generated returns on investments over the last 12 months (-35.60%).

Luokung Technology Corp. (LKCO) Analyst Forecasts

Luokung Technology Corp. quarterly earnings per share for the current quarter are estimated at -$0.1.The EPS is expected to shrink by -162.00% this year.

Luokung Technology Corp. (LKCO) Top Institutional Holders

9 institutions hold shares in Luokung Technology Corp. (LKCO), with 78.56M shares held by insiders accounting for 37.58% while institutional investors hold 3.58% of the company’s shares. The shares outstanding are 201.79M, and float is at 133.02M with Short Float at 0.20%. Institutions hold 2.23% of the Float.

The top institutional shareholder in the company is Sicart Associates LLC with over 4.21 million shares valued at $2.78 million. The investor’s holdings represent 2.09% of the LKCO Shares outstanding. As of Mar 30, 2020, the second largest holder is Renaissance Technologies, LLC with 0.31 million shares valued at $0.21 million to account for 0.16% of the shares outstanding.