News to Watch: AirNet Technology Inc. (NASDAQ:ANTE)

AirNet Technology Inc. (NASDAQ:ANTE) spotted trading -49.73% off 52-week high price. On the other end, the stock has been noted 46.87% away from the low price over the last 52-weeks. The stock changed 24.33% to recent value of $0.92. The stock transacted 483741 shares during most recent day however it has an average volume of 1.02M shares. The company has 2.51M of outstanding shares and 1.97M shares were floated in the market.

On Sept. 30, 2020, AirNet Technology Inc. (NASDAQ:ANTE) an in-flight solution provider on connectivity, entertainment, and digital multimedia in China, revealed that it has entered into an equity purchase framework agreement (the Agreement) with BitGeek Information Technology Co., Ltd. (BitGeek) and BitGeek’s shareholders, independent third parties of the Company, to purchase 100% of the equity interests in BitGeek with an issuance of ordinary shares of the Company to BitGeek’s shareholders. Details pertaining to the purchase will be further discussed and stipulated in a binding agreement among the parties after completion of the valuation of BitGeek.

Mr. Herman Guo, the Chairman and CEO of the Company, commented The acquisition of the equity interest in BitGeek will align the Company with the swift advancements of the blockchain technology as well as equipment specifically designed and applications tailored specifically for cloud computing and supercomputing. Combined with the its industrial acumens, the new alignment shall expand and broaden the Company’s ability to provide blockchain empowered solutions to its existing and potential clients. Its earnings per share (EPS) expected to touch remained 65.10% for this year while earning per share for the next 5-years is expected to reach at 20.00%.

According to the most recent quarter its current ratio was 0.3 that represents company’s ability to meet its current financial obligations. The price moved ahead of 3.74% from the mean of 20 days, 0.02% from mean of 50 days SMA and performed 3.33% from mean of 200 days price. Company’s performance for the week was 15.58%, -11.54% for month and YTD performance remained -7.54%.

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