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MICT Inc. (MICT) – Don’t Be So Quick to Call it Dead

25 institutions hold shares in MICT Inc. (MICT), with 32.28M shares held by insiders accounting for 28.27% while institutional investors hold 10.76% of the company’s shares. The shares outstanding are 65.35M, and float is at 34.85M with Short Float at 6.20%. Institutions hold 7.72% of the Float.

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The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 2.81 million shares valued at $5.85 million. The investor’s holdings represent 2.46% of the MICT Shares outstanding. As of Dec 30, 2020, the second largest holder is Altium Capital Management, LP with 1.53 million shares valued at $3.19 million to account for 1.34% of the shares outstanding. The other top investors are Barclays PLC which holds 0.65 million shares representing 0.57% and valued at over $1.36 million, while Morgan Stanley holds 0.30% of the shares totaling 0.34 million with a market value of $0.7 million.

MICT Inc. (NASDAQ: MICT) is -23.08% lower on its value in year-to-date trading and has touched a low of $0.91 and a high of $8.45 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The MICT stock was last observed hovering at around $1.60 in the last trading session, with the day’s loss setting it 0.0% off its average median price target of $6.00 for the next 12 months. It is also 73.33% off the consensus price target high of $6.00 offered by 1 analysts, but current levels are 73.33% higher than the price target low of $6.00 for the same period.

Currently trading at $1.60, the stock is -21.45% and -27.76% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.51 million and changing 0.00% at the moment leaves the stock -40.77% off its SMA200. MICT registered 50.94% gain for a year compared to 6-month loss of -49.84%. The firm has a 50-day simple moving average (SMA 50) of $2.0650 and a 200-day simple moving average (SMA200) of $2.2165.

The stock witnessed a -29.52% gain in the last 1 month and extending the period to 3 months gives it a -27.93%, and is -17.53% 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 8.64% over the week and 9.51% over the month.

MICT Inc. (MICT) has around 53 employees, a market worth around $182.70M and $1.20M in sales. Fwd P/E is 9.41. Distance from 52-week low is 75.63% and -81.07% from its 52-week high. The company has generated returns on investments over the last 12 months (-25.80%).

MICT Inc. (MICT) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for MICT Inc. (MICT) is a “Buy”. 1 analysts offering their recommendations for the stock have an average rating of 2.00, where 0 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

MICT Inc. is expected to release its quarterly report on 08/18/2021 and quarterly earnings per share for the current quarter are estimated at -$0.05 with sales reaching $3.43M over the same period.The EPS is expected to shrink by -111.00% this year, but quarterly earnings will post 1,722.70% year-over-year.

MICT Inc. (MICT) Insider Activity

A total of 6 insider transactions have happened at MICT Inc. (MICT) in the last six months, with sales accounting for 0 and purchases happening 6 times. The most recent transaction is an insider sale by Bialos Jeffrey P., the company’s Director. SEC filings show that Bialos Jeffrey P. sold 13,000 shares of the company’s common stock on Aug 28 at a price of $4.94 per share for a total of $64181.0. Following the sale, the insider now owns 0.18 million shares.

MICT Inc. disclosed in a document filed with the SEC on Aug 27 that Bialos Jeffrey P. (Director) sold a total of 7,000 shares of the company’s common stock. The trade occurred on Aug 27 and was made at $5.08 per share for $35544.0. Following the transaction, the insider now directly holds 0.2 million shares of the MICT stock.

Still, SEC filings show that on Aug 26, Bialos Jeffrey P. (Director) disposed off 17,424 shares at an average price of $4.84 for $84315.0. The insider now directly holds 205,000 shares of MICT Inc. (MICT).

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