Stock Traders Buy Large Volume of NQ Mobile Inc Put Options (NQ)
Shares of NQ Mobile Inc (NYSE:NQ) were the recipient of some unusual options trading on Wednesday. Stock traders acquired 32,141 put options on the stock, Stock Ratings Network.com reports. This is an increase of approximately 110% compared to the typical daily volume of 15,326 put options.
Several analysts have recently commented on the stock. Analysts at Topeka Capital Markets reiterated a “buy” rating on shares of NQ Mobile Inc in a research note on Friday, May 16th. They now have a $33.00 price target on the stock. Separately, analysts at TheStreet downgraded shares of NQ Mobile Inc from a “hold” rating to a “sell” rating in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $23.88.
NQ Mobile Inc (NYSE:NQ) traded up 30.93% during mid-day trading on Wednesday, hitting $9.99. 38,193,460 shares of the company’s stock traded hands. NQ Mobile Inc has a 52 week low of $6.25 and a 52 week high of $25.90. The stock’s 50-day moving average is $10.40 and its 200-day moving average is $14.59. The company’s market cap is $602.7 million.
NQ Mobile Inc (NYSE:NQ) last announced its earnings results on Thursday, April 10th. The company reported $0.22 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.32 by $0.10. The company had revenue of $67.90 million for the quarter, compared to the consensus estimate of $62.83 million. During the same quarter last year, the company posted $0.23 earnings per share. NQ Mobile Inc’s revenue was up 126.1% compared to the same quarter last year. Analysts expect that NQ Mobile Inc will post $1.25 EPS for the current fiscal year.
NQ Mobile Inc (NYSE:NQ), formerly NetQin Mobile Inc, incorporated on March 14, 2007, is a holding company.
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