Traders Buy Large Volume of Put Options on NQ Mobile (NQ)
NQ Mobile (NYSE:NQ) was the recipient of unusually large options trading on Friday. Traders acquired 12,264 put options on the stock, Stock Ratings Network.com reports. This represents an increase of 166% compared to the typical daily volume of 4,615 put options.
Several analysts have recently commented on the stock. Analysts at Macquarie initiated coverage on shares of NQ Mobile in a research note to investors on Thursday. They set an “outperform” rating on the stock. Analysts at Canaccord Genuity raised their price target on shares of NQ Mobile 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) traded up 1.96% during mid-day trading on Friday, hitting $24.92. 8,471,897 shares of the company’s stock traded hands. NQ Mobile has a 1-year low of $5.07 and a 1-year high of $24.60. The stock’s 50-day moving average is $20.55 and its 200-day moving average is $13.13. The company has a market cap of $1.283 billion and a P/E ratio of 125.33.
NQ Mobile (NYSE:NQ) last announced its earnings results on Monday, August 12th. The company reported $0.26 EPS for the quarter, beating the Thomson Reuters 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 in the previous year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was up 107.4% on a year-over-year basis. 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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