Chardan Capital Begins Coverage on Eqonex (NASDAQ:EQOS)

Investment analysts at Chardan Capital initiated coverage on shares of Eqonex (NASDAQ:EQOS – Get Rating) in a research note issued to investors on Friday, The Fly reports. The firm set a “neutral” rating on the stock.

Separately, Zacks Investment Research cut shares of Eqonex from a “buy” rating to a “hold” rating in a research note on Friday, May 27th.

EQOS traded down $0.09 on Friday, hitting $1.02. 326,135 shares of the company’s stock were exchanged, compared to its average volume of 415,890. Eqonex has a fifty-two week low of $0.99 and a fifty-two week high of $9.67. The firm has a 50-day moving average price of $1.59 and a 200-day moving average price of $2.08.

Several hedge funds and other institutional investors have recently bought and sold shares of EQOS. BlackRock Inc. purchased a new position in shares of Eqonex during the 3rd quarter worth $77,000. Geode Capital Management LLC raised its holdings in shares of Eqonex by 157.7% during the 3rd quarter. Geode Capital Management LLC now owns 49,579 shares of the company’s stock worth $160,000 after acquiring an additional 30,342 shares during the period. UBS Group AG raised its holdings in shares of Eqonex by 1,027.7% during the 3rd quarter. UBS Group AG now owns 8,717 shares of the company’s stock worth $28,000 after acquiring an additional 7,944 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Eqonex by 679.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 495,421 shares of the company’s stock worth $926,000 after acquiring an additional 431,853 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Eqonex in the 4th quarter valued at about $515,000. Institutional investors and hedge funds own 13.23% of the company’s stock.

About Eqonex (Get Rating)

Eqonex Limited operates as a digital assets financial services company. It builds products, delivers services, and develops solutions that utilize distributed ledger and other technologies to enhance the efficiency of financial markets and the current cryptocurrency industry. The company operates EQONEX cryptocurrency exchange, an exchange for the trading of virtual currencies; and an over-the-counter trading platform, as well as digital assets trading tool.

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