QualTek Services Inc. (NASDAQ: QTEK)’s stock price has increased by 69.25 compared to its previous closing price of 0.28. Despite this, the company has seen a gain of 21.54% in its stock price over the last five trading days.
Is It Worth Investing in QualTek Services Inc. (NASDAQ: QTEK) Right Now?
The public float for QTEK is 15.00M, and currently, shorts hold a 3.26% of that float. The average trading volume for QTEK on March 17, 2023 was 76.26K shares.
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QTEK’s Market Performance
QTEK’s stock has seen a 21.54% increase for the week, with a 5.31% rise in the past month and a -3.29% fall in the past quarter. The volatility ratio for the week is 17.10%, and the volatility levels for the past 30 days are at 10.98% for QualTek Services Inc. The simple moving average for the last 20 days is 19.00% for QTEK stock, with a simple moving average of -58.74% for the last 200 days.
QTEK Trading at 4.12% from the 50-Day Moving Average
After a stumble in the market that brought QTEK to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -87.50% of loss for the given period.
Volatility was left at 10.98%, however, over the last 30 days, the volatility rate increased by 17.10%, as shares surge +9.23% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +3.28% upper at present.
During the last 5 trading sessions, QTEK rose by +24.47%, which changed the moving average for the period of 200-days by -69.09% in comparison to the 20-day moving average, which settled at $0.4003. In addition, QualTek Services Inc. saw 7.51% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at QTEK starting from SPITTLER ADAM PAUL, who purchase 5,500 shares at the price of $1.91 back on Aug 19. After this action, SPITTLER ADAM PAUL now owns 12,750 shares of QualTek Services Inc., valued at $10,505 using the latest closing price.
SPITTLER ADAM PAUL, the Chief Financial Officer of QualTek Services Inc., purchase 7,250 shares at $1.50 during a trade that took place back on Jun 16, which means that SPITTLER ADAM PAUL is holding 7,250 shares at $10,875 based on the most recent closing price.
Stock Fundamentals for QTEK
Equity return is now at value -255.60, with -4.10 for asset returns.
Conclusion
In conclusion, QualTek Services Inc. (QTEK) has had a mixed performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
