NQ Mobile Up 10% Ahead Of Q4 Report
NQ Mobile Inc (NYSE: NQ) shares have gained 10 percent in the past week ahead of the Chinese mobile service provider's expected fourth-quarter results and conference call later Wednesday.
The company made headlines in December with its last quarterly report, when short-seller Carson Block crashed its conference call under an assumed name.
Carson, who had accused NQ of fraudulent accounting, asked for information on the whereabouts of NQ founder Henry Lin, who had recently resigned as chief executive.
After cutting off Carson, managers said Lin resigned for personal reasons unrelated to the company.
The sole analyst who continues to follow NQ, Topeka's Frederick Ziegel, expects the company will post adjusted fourth-quarter earnings of $0.02 a share, on revenue of $83 million.
Ziegel maintains a Buy rating and $8.50 target.
NQ changed hands recently at $3.95, down 2 percent.
Although the shares have been rising recently, the company is off 80 percent in the past 12 months amid Carson's fraud allegations, delays in its financial reports and management turmoil.
Short interest amounts to about 6 percent of the company's public float, down from nearly 8 percent last summer.
Latest Ratings for NQ
Date | Firm | Action | From | To |
---|---|---|---|---|
May 2015 | Rosenblatt | Initiates Coverage On | Buy | |
Nov 2013 | Topeka Capital | Maintains | Buy | |
Nov 2013 | Topeka Capital | Maintains | Buy |
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