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Friday, October 30, 2020

Investor Confidence is Falling for MICT Inc. (NASDAQ:MICT)

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MICT Inc. (MICT) shares are trading at lower $3.08 and the avg recommendation for the stock is Moderate Buy, while the current analyst price target stands at $6.00.

To add more color to this target, the company’s high over the last year is $8.45 and the low is $0.38. Over the last 52 weeks, MICT is up 433.33% while the S&P 500 is up 8.70%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, MICT reported a profit of $0.9 million. MICT Inc. also saw revenues increase to $0.67 million. In addition, MICT has free cash flow of -$1.65 million as of 06-2020. The company’s EBITDA came in at -$0.67 million which compares well with its peers.

MICT Return on Equity (ROE) is -100.00%, and its Return on Assets is -37.50%. All told, it is clear that, MICT needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. MICT has a short ratio of 0.38 and outstanding shares of 11.10M.

Company Outlook

MICT has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.7 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.34. MICT Inc. MICT also noted assets of $20.0 million at the end of the last quarter. Investors should also keep an eye on sector updates as MICT has historically followed its peers on positive news.

All told, MICT Inc. MICT has strung together solid data and demonstrated underlying fundamentals. At its current valuation, MICT represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

MICT Inc. MICT is now commanding a market cap of 31.45M and a float of 3.86M. MICT is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of MICT stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in MICT, either long or short, and we have not been compensated for this article.

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