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Tingo (NASDAQ:MICT) Upgraded to "Sell" by StockNews.com

Financial News Live ·  Dec 30, 2022 00:11

Tingo (NASDAQ:MICT – Get Rating) was upgraded by research analysts at StockNews.com to a "sell" rating in a note issued to investors on Thursday.

Tingo Stock Up 10.8 %

Tingo stock traded up $0.08 during trading hours on Thursday, hitting $0.78. The company had a trading volume of 189,103 shares, compared to its average volume of 669,154. The firm has a 50-day moving average of $0.91 and a 200 day moving average of $0.76. Tingo has a one year low of $0.41 and a one year high of $1.35.

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Tingo (NASDAQ:MICT – Get Rating) last posted its earnings results on Monday, November 14th. The company reported ($0.05) EPS for the quarter. The firm had revenue of $13.76 million during the quarter. Tingo had a negative net margin of 76.10% and a negative return on equity of 28.28%.

Institutional Investors Weigh In On Tingo

A number of hedge funds and other institutional investors have recently modified their holdings of MICT. State Street Corp grew its stake in shares of Tingo by 8.4% in the first quarter. State Street Corp now owns 355,018 shares of the company's stock valued at $217,000 after acquiring an additional 27,506 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Tingo by 8.1% during the 3rd quarter. Renaissance Technologies LLC now owns 191,421 shares of the company's stock worth $131,000 after purchasing an additional 14,300 shares in the last quarter. Bison Wealth LLC increased its holdings in shares of Tingo by 10.2% during the first quarter. Bison Wealth LLC now owns 183,800 shares of the company's stock worth $112,000 after purchasing an additional 17,044 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Tingo in the third quarter valued at approximately $55,000. Finally, Jane Street Group LLC bought a new stake in shares of Tingo in the second quarter valued at approximately $28,000. Institutional investors and hedge funds own 7.23% of the company's stock.

Tingo Company Profile

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Tingo, Inc, an agri-fintech company, operates a marketplace platform that empowers social upliftment through mobile, technology, and financial access for rural farming communities in Africa. Its Tingo Mobile offers its comprehensive platform service through use of smartphones 'device as a service' to empower a marketplace to enable subscribers/farmers within and outside of the agricultural sector to manage commercial activities of growing and selling production to market participants in domestically and internationally.

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