Zacks Investment Research Downgrades Taoping (NASDAQ:TAOP) to Sell

Taoping (NASDAQ:TAOP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday, reports.

According to Zacks, “Taoping Inc. is a cloud-based ad terminal and service provider of a digital advertising distribution network and new media resource sharing platform in the out-of-home advertising market primarily of China. The Company provides the integrated end-to-end digital advertising solutions enabling customers to distribute and manage ads on the ad display terminals. Taoping Inc., formerly known as China Information Technology Inc., is based in Futian D Shenzhen City, China. “

Separately, ValuEngine downgraded shares of Taoping from a “hold” rating to a “sell” rating in a report on Friday, May 3rd.

Shares of NASDAQ TAOP traded down $0.01 during trading hours on Wednesday, hitting $0.74. 814 shares of the stock were exchanged, compared to its average volume of 83,541. The company has a market cap of $32.88 million, a P/E ratio of 18.50 and a beta of 1.31. Taoping has a one year low of $0.64 and a one year high of $1.70.

A hedge fund recently raised its stake in Taoping stock. Two Sigma Securities LLC increased its position in shares of Taoping Inc (NASDAQ:TAOP) by 128.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,965 shares of the company’s stock after buying an additional 14,577 shares during the period. Two Sigma Securities LLC owned 0.06% of Taoping worth $31,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 0.50% of the company’s stock.

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 primarily in the People's Republic of China. The company operates in two segments, Cloud-based Technology and Traditional Information Technology.

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