Traders Buy High Volume of Call Options on NQ Mobile (NQ)
NQ Mobile (NYSE:NQ) was the target of unusually large options trading activity on Monday. Stock investors purchased 8,689 call options on the company, American Banking News reports. This represents an increase of 119% compared to the average volume of 3,960 call options.
Separately, analysts at Canaccord Genuity raised their price target on shares of NQ Mobile (NYSE:NQ) from $17.00 to $28.00 in a research note to investors on Tuesday, August 13th. They now have a “buy” rating on the stock.
Shares of NQ Mobile (NYSE:NQ) opened at 23.80 on Tuesday. NQ Mobile has a 52 week low of $5.07 and a 52 week high of $23.96. The stock’s 50-day moving average is $18.63 and its 200-day moving average is $11.60. The company has a market cap of $1.225 billion and a price-to-earnings ratio of 122.05.
NQ Mobile (NYSE:NQ) last posted its quarterly earnings results on Monday, August 12th. The company reported $0.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.20 by $0.06. The company had revenue of $41.40 million for the quarter, compared to the consensus estimate of $38.34 million. During the same quarter last year, the company posted $0.14 earnings per share. NQ Mobile’s revenue was up 107.4% compared to the same quarter last year. Analysts expect that NQ Mobile will post $1.05 EPS for the current fiscal year.
NQ Mobile Inc (NYSE:NQ), formerly NetQin Mobile Inc, is a holding company.
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