Guardforce AI (NASDAQ:GFAI) Shares Down 4.5% – Time to Sell?

Guardforce AI Co., Limited (NASDAQ:GFAI)’s share price dropped 4.5% during mid-day trading on Thursday. The stock traded as low as $0.19 and last traded at $0.2046. 651,390 shares traded hands during trading, an increase of 353% from the average daily volume of 143,847 shares. The stock had previously closed at $0.2142.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Guardforce AI from a “sell (d)” rating to a “sell (e+)” rating in a research report on Friday, October 9th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Guardforce AI Trading Down 4.5%

The business’s 50 day moving average is $0.33 and its 200-day moving average is $0.41. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.22 and a quick ratio of 5.22.

Guardforce AI (NASDAQ:GFAI) last posted its quarterly earnings results on Wednesday, September 23rd. The company reported ($0.05) EPS for the quarter. The firm had revenue of $9.14 million during the quarter.

Institutional Trading of Guardforce AI

A hedge fund recently raised its position in Guardforce AI stock. Renaissance Technologies LLC raised its holdings in Guardforce AI Co., Limited (NASDAQ:GFAI) by 13.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 395,200 shares of the company’s stock after acquiring an additional 47,500 shares during the quarter. Renaissance Technologies LLC owned approximately 1.62% of Guardforce AI worth $177,000 as of its most recent SEC filing. Institutional investors and hedge funds own 2.04% of the company’s stock.

About Guardforce AI

Guardforce AI Co, Limited (NASDAQ:GFAI) is a technology and security services company focused on combining traditional security operations with artificial intelligence and robotics. The company provides integrated security solutions designed to support businesses, institutions and other organizations.

Its security services include manned guarding, cash-in-transit services and related security solutions. Through its AI robotics business, Guardforce AI offers robotic products and services for applications such as delivery, disinfection, customer service and other commercial or institutional uses.

The company has historical roots in the security services industry in Asia and was formerly known as Sino Vision Worldwide Holdings Limited before adopting the Guardforce AI name.