Borqs Technologies (BRQS) Downgraded by ValuEngine to Hold

ValuEngine cut shares of Borqs Technologies (NASDAQ:BRQS) from a buy rating to a hold rating in a report issued on Friday, May 10th, ValuEngine reports.

Separately, TheStreet raised shares of Borqs Technologies from a d rating to a c- rating in a report on Monday, March 25th.

Shares of BRQS traded down $0.07 during mid-day trading on Friday, hitting $3.86. 920 shares of the company’s stock were exchanged, compared to its average volume of 2,173. Borqs Technologies has a twelve month low of $2.11 and a twelve month high of $11.15. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.20 and a current ratio of 1.38.

Several hedge funds and other institutional investors have recently bought and sold shares of BRQS. Wells Fargo & Company MN bought a new stake in shares of Borqs Technologies during the 1st quarter worth $2,390,000. Intel Corp boosted its holdings in Borqs Technologies by 5.7% in the 1st quarter. Intel Corp now owns 4,016,696 shares of the company’s stock valued at $19,200,000 after purchasing an additional 217,524 shares during the period. Finally, Norwest Venture Partners X L P boosted its holdings in Borqs Technologies by 5.7% in the 4th quarter. Norwest Venture Partners X L P now owns 3,533,482 shares of the company’s stock valued at $11,307,000 after purchasing an additional 191,356 shares during the period. 22.66% of the stock is owned by institutional investors and hedge funds.

Borqs Technologies Company Profile

Borqs Technologies, Inc, through its subsidiaries, provides development services, software solutions, and products for Android-based smart connected devices in China, India, the United States, and internationally. It operates through two segments, Mobile Virtual Network Operator Services and Connected Solutions.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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