Guardforce AI (NASDAQ:GFAI) Shares Down 0.9% – Here’s What Happened

Shares of Guardforce AI Co., Limited (NASDAQ:GFAI) dropped 0.9% during trading on Wednesday. The company traded as low as $0.32 and last traded at $0.3365. Approximately 190,769 shares traded hands during trading, an increase of 117% from the average daily volume of 87,915 shares. The stock had previously closed at $0.3397.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Guardforce AI from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Guardforce AI Trading Up 2.5%

The firm has a 50-day simple moving average of $0.35 and a two-hundred day simple moving average of $0.43. The company has a current ratio of 5.32, a quick ratio of 5.31 and a debt-to-equity ratio of 0.06.

Guardforce AI (NASDAQ:GFAI) last released its quarterly earnings results on Wednesday, September 23rd. The company reported ($0.05) EPS for the quarter. The company had revenue of $9.14 million for the quarter.

Hedge Funds Weigh In On Guardforce AI

A hedge fund recently raised its position in Guardforce AI stock. Renaissance Technologies LLC lifted its stake in shares of Guardforce AI Co., Limited (NASDAQ:GFAI) by 13.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 395,200 shares of the company’s stock after purchasing an additional 47,500 shares during the quarter. Renaissance Technologies LLC owned 1.62% of Guardforce AI worth $177,000 as of its most recent SEC filing. 2.04% of the stock is owned by institutional investors.

Guardforce AI Company Profile

Guardforce AI Co, Limited (NASDAQ:GFAI) is a technology and security services company focused on combining traditional security operations with artificial intelligence and robotics. Its activities include security services and technology-enabled solutions designed for commercial, institutional and other business customers.

The company has offered services such as manned guarding, cash-in-transit operations, alarm monitoring, electronic security systems and security consulting. It has also developed and marketed robotic solutions for applications including delivery, reception, disinfection, education, retail and care-related environments.

Guardforce AI has historical roots in the Asian security-services industry and has expanded its business toward AI and robotics.