There’s Something Awry at Near Intelligence Inc (NASDAQ:NIR) Since Share Price Gets Ahead of Fundamentals

The stock of Near Intelligence Inc (NASDAQ:NIR) last traded at $0.19, down -31.41% from the previous session.

Data from the available sources indicates that Near Intelligence Inc (NASDAQ:NIR) is covered by 2 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $5.00 and a low of $2.00, we find $3.50. Given the previous closing price of $0.28, this indicates a potential upside of 1150.0 percent. NIR stock price is now -22.89% away from the 50-day moving average and -94.18% away from the 200-day moving average. The market capitalization of the company currently stands at $9.83M.

In total, 0 analysts have assigned it a hold rating, and 2 have given it a buy rating. Brokers who have rated the stock have averaged $3.50 as their price target over the next twelve months.

In other news, Petralia Kathryn, Director bought 15,000 shares of the company’s stock on Aug 18. The stock was bought for $6,600 at an average price of $0.44. Upon completion of the transaction, the Director now directly owns 60,000 shares in the company, valued at $11400.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 17, Director Petralia Kathryn bought 15,000 shares of the business’s stock. A total of $7,050 was incurred on buying the stock at an average price of $0.47. This leaves the insider owning 45,000 shares of the company worth $8550.0. Insiders disposed of 2,419,587 shares of company stock worth roughly $0.46 million over the past 1 year. A total of 70.52% of the company’s stock is owned by insiders.

With an opening price of $0.2001 on Friday morning, Near Intelligence Inc (NASDAQ: NIR) set off the trading day. During the past 12 months, Near Intelligence Inc has had a low of $0.13 and a high of $18.65. As of last week, the company has a debt-to-equity ratio of 26.82, a current ratio of 0.55, and a quick ratio of 0.55. The fifty day moving average price for NIR is $0.2426 and a two-hundred day moving average price translates $3.2165 for the stock.

The latest earnings results from Near Intelligence Inc (NASDAQ: NIR) was released for Jun, 2023. According to the Software – Application Company, earnings per share came in at -$0.19, beating analysts’ expectations of -$0.35 by 0.16. This compares to -$7.16 EPS in the same period last year. The net profit margin was -110.73% and return on equity was -44.05% for NIR. The company reported revenue of $17.71 million for the quarter, compared to $14.84 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 19.34 percent. For the current quarter, analysts expect NIR to generate $20.1M in revenue.

Near Intelligence Inc(NIR) Company Profile

Near Intelligence, Inc. operates as a cloud-based data intelligence platform in Australia, France, India, Japan, Singapore, the United Kingdom, the United States, the United Arab Emirates, and internationally. The company offers Allspark, a marketing intelligence product, which enables data-driven segmentation and activation for marketing intelligence; Pinnacle, an operational intelligence product that enables customers to focus on consumer behavior in and around places, such as restaurants, retail locations, and tourist attractions; and Vista, which enables marketing, consumer insights, and operational departments to use the same shared source of data intelligence. It also provides Engage, which focuses on the flighting and delivery of the campaign to the correct audience; and Compass that measures the effectiveness of the campaign. The company provide its services to retail, restaurants, automotive, real estate, media and technology, government, financial service, travel, and tourism. Near Intelligence, Inc. was founded in 2012 and is headquartered in Pasadena, California.

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