In yesterday’s Wall Street session, Tingo Group Inc. (NASDAQ:TIO) shares traded at $0.88, down -25.92% from the previous session.
1 analysts cover Tingo Group Inc. (NASDAQ:TIO), according to research data. 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 $1.18, this indicates a potential upside of 895.76 percent. TIO stock price is now -32.91% away from the 50-day moving average and -38.35% away from the 200-day moving average. The market capitalization of the company currently stands at $142.51M.
The stock has received a hold rating from 0 analysts and a buy rating from 1. 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 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP during the first quarter worth $1,478,000. TWO SIGMA INVESTMENTS, LP invested $859,000 in shares of TIO during the first quarter. In the first quarter, JPMORGAN CHASE & CO acquired a new stake in Tingo Group Inc. valued at approximately $688,000. NUVEEN ASSET MANAGEMENT, LLC acquired a new stake in TIO for approximately $418,000. AMERICAN CENTURY COMPANIES INC purchased a new stake in TIO valued at around $360,000 in the second quarter.
On Tuesday morning Tingo Group Inc. (NASDAQ: TIO) stock kicked off with the opening price of $0.7908. During the past 12 months, Tingo Group Inc. has had a low of $0.57 and a high of $5.69. As of last week, the company has a debt-to-equity ratio of 0.22, a current ratio of 2.10, and a quick ratio of 2.10. The fifty day moving average price for TIO is $1.3024 and a two-hundred day moving average price translates $1.4246 for the stock.
The latest earnings results from Tingo Group Inc. (NASDAQ: TIO) was released for Mar, 2023. According to the Software – Application Company, earnings per share came in at $0.33, beating analysts’ expectations of $0.28 by 0.05. This compares to -$0.07 EPS in the same period last year. The net profit margin was 14.00% and return on equity was 28.60% 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. For the current quarter, analysts expect TIO to generate $915M in revenue.
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.
