Taoping (NASDAQ:TAOP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday, Zacks.com 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 cut shares of Taoping from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd.
TAOP traded down $0.01 during trading on Thursday, hitting $0.95. 910 shares of the stock traded hands, compared to its average volume of 76,325. Taoping has a 12-month low of $0.91 and a 12-month high of $1.95.
A hedge fund recently raised its stake in Taoping stock. Two Sigma Securities LLC raised its position in shares of Taoping Inc (NASDAQ:TAOP) by 128.0% in the 4th quarter, according to its most recent 13F filing with the Securities & 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 about 0.06% of Taoping worth $31,000 at the end of the most recent reporting period. 0.38% of the stock is currently owned by hedge funds and other institutional investors.
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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