Analyzing LKCO Stock Performance
On Thursday, Luokung Technology Corp. [NASDAQ: LKCO] plunged -3.58% to $0.14. The stock’s lowest price that day was $0.136, but it reached a high of $0.1496 in the same session. During the last five days, there has been a drop of approximately -17.45%. Over the course of the year, Luokung Technology Corp. shares have dropped approximately -7.53%. Shares of the company reached a 52-week high of $0.2545 on 01/25/23 and a 52-week low of $0.1360 on 02/23/23. A 50-day SMA is recorded $0.1834, while a 200-day SMA reached $0.2514. Nevertheless, trading volume fell to 3.19 million shares from 3.48 million shares the previous day.
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Support And Resistance Levels for Luokung Technology Corp. (LKCO)
According to the 24-hour chart, there is a support level at 0.1341, which, if violated, would cause prices to drop to 0.1283. In the upper region, resistance lies at 0.1477. The next price resistance is at 0.1555. RSI (Relative Strength Index) is 29.10 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0242, which suggests the price will decrease in the coming days. Percent R is at 94.20%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Luokung Technology Corp. subject to short interest?
Stocks of Luokung Technology Corp. saw a sharp steep in short interest on Jan 30, 2023 dropping by -2.87 million shares to 2.71 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 5.58 million shares. A decline of -105.9% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.46 of the overall float, the days-to-cover ratio (short ratio) decline to 1.46.
Which companies own the most shares of Luokung Technology Corp. (LKCO)?
According to Sicart Associates LLC filings, the company currently owns 5,730,941 shares, which is about 1.16% of the total LKCO shares outstanding. The investor’s shares have appreciated by 1,750,000 from its previous 13-F filing of 3980941.0 shares. With the completion of the buy transaction, SSgA Funds Management, Inc.’s stake is now worth $211,564. In its current portfolio, Triton Wealth Management PLLC holds 57,500 shares valued at $11615.0.
In terms of Luokung Technology Corp. share price expectations, FactSet research, analysts set an average price target of $1.80 in the next 12 months, up nearly 1100.0% from the previous closing price of $0.15. Analysts anticipate Luokung Technology Corp. stock to reach $1.80 by 2023, with the lowest price target being $1.80. In spite of this, 1 analysts ranked Luokung Technology Corp. stock as a Buy at the end of 2023.