Stocks of Tingo Group Inc. (NASDAQ:TIO) traded higher last session on Wall Street, down -9.02% to $4.64.
According to the data, Tingo Group Inc. (NASDAQ:TIO) has 1 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $11.75 and a low of $11.75, we find $11.75. Given the previous closing price of $5.10, this indicates a potential upside of 130.39 percent. TIO stock price is now 167.32% away from the 50-day moving average and 332.37% away from the 200-day moving average. The market capitalization of the company currently stands at $759.66M.
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A total of 0 analysts have issued a hold rating and 1 have given it a buy rating. Brokers who have rated the stock have averaged $11.75 as their price target over the next twelve months.
A total of 26.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in TIO stock. A new stake in Tingo Group Inc. shares was purchased by WEALTHSPIRE ADVISORS, LLC during the first quarter worth $1,566,000. SQUAREPOINT OPS LLC invested $139,000 in shares of TIO during the first quarter. In the first quarter, ERGOTELES LLC acquired a new stake in Tingo Group Inc. valued at approximately $128,000. MILLENNIUM MANAGEMENT LLC acquired a new stake in TIO for approximately $112,000. BLUE ZONE WEALTH ADVISORS, LLC purchased a new stake in TIO valued at around $46,000 in the second quarter. In total, there are 33 active investors with 6.00% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $5.3800 for Tingo Group Inc. (NASDAQ: TIO). During the past 12 months, Tingo Group Inc. has had a low of $0.54 and a high of $5.14. The fifty day moving average price for TIO is $1.8096 and a two-hundred day moving average price translates $1.0931 for the stock.
The latest earnings results from Tingo Group Inc. (NASDAQ: TIO) was released for Mar, 2023. According to the Computer Hardware Company, earnings per share came in at -$0.02, missing analysts’ expectations of $0.17 by -0.19. This compares to -$0.07 EPS in the same period last year. The net profit margin was -32.20% and return on equity was -16.40% for TIO. The company reported revenue of $851.25 million for the quarter, compared to $9.56 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 8801.44 percent.
Tingo Group Inc.(TIO) Company Profile
Tingo Group, Inc. engages in the financial technology and agri-fintech businesses delivering financial inclusion and financial upliftment to rural farming communities in Africa, Southeast Asia, and the Middle East. The company operates through Verticals and Technology, Online Stock Trading, Comprehensive Platform Service segments. Its platform service through use of smartphones device as a service and pre-loaded platform product; Nwassa platform, a digital agriculture ecosystem that empowers rural farmers and agri-businesses; and insurance platform, an online automobile insurance after-market service to connect automobile insurance customers with auto repair shops and auto wash stores nationwide, as well as provide customers auto membership services, including online gas card recharge, online shopping, insurance claim settlements, roadside assistance, car wash appointment and maintenance and promotion coupons, insurance loyalty points, and other related supporting services for insurance members. The company also offers TingoPay, a B2C and B2B fintech platform and super-app that offers payment services, an e-wallet, foreign exchange, and merchant services; Tingo Foods, a food processing business that processes raw foods into finished products such as rice, pasta, and noodles; and Tingo DMCC, a commodity trading platform and agricultural commodities export business. In addition, it provides Magpie Invest, a proprietary technology investment trading platform offers margin financing services, as well as offers smart phone leasing, an agri-marketplace, airtime top ups, utility payment services, bill-pay and e-wallet, insurance products, and access to finance and lending services. The company was formerly known as MICT, Inc. and changed its name to Tingo Group, Inc. in February 2023. Tingo Group, Inc. is based in Montvale, New Jersey.
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