Taoping (NASDAQ:TAOP) Stock Price Down 3% – Here’s What Happened

Shares of Taoping Inc. (NASDAQ:TAOP) dropped 3% during trading on Friday . The stock traded as low as $1.2780 and last traded at $1.3777. Approximately 3,779 shares traded hands during trading, a decline of 50% from the average daily volume of 7,620 shares. The stock had previously closed at $1.42.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Taoping in a research report on Wednesday, April 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Taoping Price Performance

The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.30. The company’s 50-day simple moving average is $1.34 and its two-hundred day simple moving average is $1.60.

Taoping (NASDAQ:TAOP) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.67) earnings per share for the quarter, beating the consensus estimate of ($12.00) by $11.33. The firm had revenue of $5.66 million for the quarter, compared to analysts’ expectations of $24.00 million.

About Taoping

Taoping Inc provides cloud-based platform, resource sharing, and big data solutions to the Chinese new media, education residential community management, and elevator Internet of Things (IoT) industries in the People's Republic of China. It operates through Cloud-Based Technology and Traditional Information Technology segments. The company offers cloud-based software as a service to automate the interactive workflows between advertising agencies and their customers, including establishing new advertising projects, submitting advertisement proposals, revising and approving advertising proposals, processing payment online, remotely uploading advertisement content, and tracking and analyzing performance data.