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Saturday, September 30, 2023

The Forecast Just Changed on Color Star Technology Co. Ltd. (NASDAQ:CSCW)

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Color Star Technology Co. Ltd. (CSCW) shares are trading at higher $0.58.

To add more color to this target, the company’s high over the last year is $2.50 and the low is $0.31. Over the last 52 weeks, CSCW is down -75.17% while the S&P 500 is up 18.53%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

CSCW Return on Equity (ROE) is -393.30%, and its Return on Assets is -27.30%. All told, it is clear that, CSCW 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. CSCW has a short ratio of 0.34 and outstanding shares of 54.86M.

Company Outlook

CSCW has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 8.73 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.44. Color Star Technology Co. Ltd. CSCW also noted assets of $52.83 million at the end of the last quarter. Investors should also keep an eye on sector updates as CSCW has historically followed its peers on positive news.

All told, Color Star Technology Co. Ltd. CSCW has strung together solid data and demonstrated underlying fundamentals. At its current valuation, CSCW 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.

Color Star Technology Co. Ltd. CSCW is now commanding a market cap of 29.62M and a float of 40.49M. CSCW 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 CSCW 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 CSCW, either long or short, and we have not been compensated for this article.

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