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Luokung Technology Corp. (LKCO) distance from 20-day Simple moving Average is -37.24%: What to Expect?

Let’s start up with the current stock price of Luokung Technology Corp. (LKCO), which is $0.23 to be very precise. The Stock rose vividly during the last session to $0.24 after opening rate of $0.24 while the lowest price it went was recorded $0.2239 before closing at $0.24.Recently in News on July 28, 2022, Luokung Technology Corp. Announces the Closing of $8 Million Registered Direct Offering. Luokung Technology Corp. (the “Company” or “Luokung”) (NASDAQ: LKCO), today announced that on July 28, 2022, it closed its previously announced registered direct offering of (i) 26,666,667 ordinary shares and (ii) warrants to purchase 26,666,667 ordinary shares at a combined purchase price of $0.30. The gross proceeds to Luokung from this offering are approximately $8 million, before deducting placement agent fees and other estimated offering expenses. The warrants have an exercise price of $0.41 per share and expire five years from the date of issuance. You can read further details here

Luokung Technology Corp. had a pretty Dodgy run when it comes to the market performance. The 1-year high price for the company’s stock is recorded $0.9200 on 02/11/22, with the lowest value was $0.1908 for the same time period, recorded on 07/26/22.

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Luokung Technology Corp. (LKCO) full year performance was -84.39%

Price records that include history of low and high prices in the period of 52 weeks can tell a lot about the stock’s existing status and the future performance. Presently, Luokung Technology Corp. shares are logging -87.14% during the 52-week period from high price, and 21.28% higher than the lowest price point for the same timeframe. The stock’s price range for the 52-week period managed to maintain the performance between $0.19 and $1.80.

The company’s shares, operating in the sector of Communication Services managed to top a trading volume set approximately around 1731381 for the day, which was evidently lower, when compared to the average daily volumes of the shares.

When it comes to the year-to-date metrics, the Luokung Technology Corp. (LKCO) recorded performance in the market was -60.79%, having the revenues showcasing -51.57% on a quarterly basis in comparison with the same period year before. At the time of this writing, the total market value of the company is set at 93.10M, as it employees total of 180 workers.

Specialists analysis on Luokung Technology Corp. (LKCO)

During the last month, 0 analysts gave the Luokung Technology Corp. a BUY rating, 0 of the polled analysts branded the stock as an OVERWEIGHT, 0 analysts were recommending to HOLD this stock, 0 of them gave the stock UNDERWEIGHT rating, and 0 of the polled analysts provided SELL rating.

According to the data provided on Barchart.com, the moving average of the company in the 100-day period was set at 0.4537, with a change in the price was noted -0.35. In a similar fashion, Luokung Technology Corp. posted a movement of -60.05% for the period of last 100 days, recording 1,783,506 in trading volumes.

Total Debt to Equity Ratio (D/E) can also provide valuable insight into the company’s financial health and market status. The debt to equity ratio can be calculated by dividing the present total liabilities of a company by shareholders’ equity. Debt to Equity thus makes a valuable metrics that describes the debt, company is using in order to support assets, correlating with the value of shareholders’ equity The total Debt to Equity ratio for LKCO is recording 0.00 at the time of this writing. In addition, long term Debt to Equity ratio is set at 0.00.

Trends and Technical analysis: Luokung Technology Corp. (LKCO)

Raw Stochastic average of Luokung Technology Corp. in the period of last 50 days is set at 12.24%. The result represents downgrade in oppose to Raw Stochastic average for the period of the last 20 days, recording 15.63%. In the last 20 days, the company’s Stochastic %K was 16.76% and its Stochastic %D was recorded 17.11%.

Now, considering the stocks previous presentation, multiple moving trends are noted. Year-to-date Price performance of the company’s stock appears to be encouraging, given the fact the metric is recording -60.79%. Additionally, trading for the stock in the period of the last six months notably deteriorated by -45.32%, alongside a downfall of -84.39% for the period of the last 12 months. The shares increased approximately by -40.62% in the 7-day charts and went up by -40.66% in the period of the last 30 days. Common stock shares were lifted by -51.57% during last recorded quarter.

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