NQ Mobile (NYSE:NQ) has been assigned a $13.00 target price by analysts at Rosenblatt Securities in a research note issued on Monday. The firm currently has a “buy” rating on the software maker’s stock. Rosenblatt Securities’ price objective would suggest a potential upside of 223.38% from the company’s current price.

NQ Mobile (NQ) traded up $0.03 during trading on Monday, reaching $4.02. The company’s stock had a trading volume of 1,121,507 shares, compared to its average volume of 453,050. The company has a current ratio of 4.04, a quick ratio of 4.02 and a debt-to-equity ratio of 0.56. NQ Mobile has a twelve month low of $3.16 and a twelve month high of $4.68.

NQ Mobile announced that its board has authorized a stock buyback plan on Monday, November 13th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the software maker to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Institutional investors have recently bought and sold shares of the business. Profund Advisors LLC grew its stake in NQ Mobile by 50.0% during the 2nd quarter. Profund Advisors LLC now owns 30,210 shares of the software maker’s stock valued at $103,000 after purchasing an additional 10,065 shares during the last quarter. Aperio Group LLC purchased a new stake in shares of NQ Mobile in the third quarter worth about $118,000. Stevens Capital Management LP boosted its stake in shares of NQ Mobile by 83.5% in the second quarter. Stevens Capital Management LP now owns 34,837 shares of the software maker’s stock worth $118,000 after buying an additional 15,856 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of NQ Mobile by 343.8% in the second quarter. Bank of Montreal Can now owns 100,988 shares of the software maker’s stock worth $343,000 after buying an additional 78,231 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its stake in shares of NQ Mobile by 74.9% in the third quarter. Penserra Capital Management LLC now owns 160,864 shares of the software maker’s stock worth $563,000 after buying an additional 68,904 shares during the last quarter. Institutional investors and hedge funds own 8.32% of the company’s stock.

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NQ Mobile Company Profile

NQ Mobile Inc is a global provider of mobile Internet services. The Company provides a portfolio of offerings, including mobile game publishing platforms, mobile advertising platforms, mobile entertainment applications and platforms, mobile security and productivity applications, as well as other mobile applications.

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