NQ Mobile Inc. (NQ) Shares Down 7.1%
NQ Mobile Inc. (NYSE:NQ)’s share price dropped 7.1% during trading on Tuesday . The stock traded as low as $3.65 and last traded at $3.68. Approximately 693,545 shares traded hands during mid-day trading, an increase of 81% from the average daily volume of 382,538 shares. The stock had previously closed at $3.96.
NQ has been the topic of several research reports. BidaskClub upgraded shares of NQ Mobile from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 19th. ValuEngine upgraded shares of NQ Mobile from a “sell” rating to a “hold” rating in a research note on Friday, July 28th.
The firm’s market cap is $396.73 million. The company’s 50-day moving average is $3.56 and its 200-day moving average is $3.54.
Several institutional investors and hedge funds have recently made changes to their positions in NQ. Dimensional Fund Advisors LP increased its position in shares of NQ Mobile by 114.1% during the first quarter. Dimensional Fund Advisors LP now owns 632,530 shares of the software maker’s stock valued at $2,635,000 after buying an additional 337,111 shares during the period. Bank of Montreal Can increased its position in shares of NQ Mobile by 343.8% during the second quarter. Bank of Montreal Can now owns 100,988 shares of the software maker’s stock valued at $343,000 after buying an additional 78,231 shares during the period. Penserra Capital Management LLC increased its position in shares of NQ Mobile by 74.9% during the third quarter. Penserra Capital Management LLC now owns 160,864 shares of the software maker’s stock valued at $563,000 after buying an additional 68,904 shares during the period. Morgan Stanley increased its position in shares of NQ Mobile by 13.2% during the first quarter. Morgan Stanley now owns 413,582 shares of the software maker’s stock valued at $1,725,000 after buying an additional 48,116 shares during the period. Finally, Aperio Group LLC bought a new stake in shares of NQ Mobile during the third quarter valued at about $118,000. Hedge funds and other institutional investors own 7.48% of the company’s stock.
About NQ Mobile
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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