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Sunday, January 24, 2021

Taoping Inc. (NASDAQ:TAOP) Stock is Soaring, Here is Why

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Taoping Inc. (TAOP) shares are trading at higher $3.31.

To add more color to this target, the company’s high over the last year is $15.00 and the low is $1.86. Over the last 52 weeks, TAOP is up 16.14% while the S&P 500 is up 15.47%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

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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. TAOP has a short ratio of 0.12 and outstanding shares of 7.08M.

Company Outlook

TAOP has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.29 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -1.34. Taoping Inc. TAOP also noted assets of $32.29 million at the end of the last quarter. Investors should also keep an eye on sector updates as TAOP has historically followed its peers on positive news.

All told, Taoping Inc. TAOP has strung together solid data and demonstrated underlying fundamentals. At its current valuation, TAOP 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.

Taoping Inc. TAOP is now commanding a market cap of 24.99M and a float of 4.59M. TAOP 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 TAOP 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 TAOP, either long or short, and we have not been compensated for this article.

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