MICT, Inc., through its subsidiaries, designs, develops, manufactures, and sells mobile computing devices and software for fleet operators and field workforces. It also engages in the provision of online brokerage services for equities trading and the sale of insurance products through a proprietary trading technology platform. In addition, the company offers online investment and wealth management services, as well as trades in commodities. It serves in the United States, Israel, Europe, China, and internationally. The company was formerly known as Micronet Enertec Technologies, Inc. and changed its name to MICT, Inc. in July 2018. MICT, Inc. was founded in 2002 and is headquartered in Montvale, New Jersey.
IPO Year:
Exchange: NASDAQ
Website: mict-inc.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/4/2021 | $4.25 | Buy | Alliance Global Partners |
Alliance Global Partners initiated coverage of MICT, Inc. with a rating of Buy and set a new price target of $4.25
MONTVALE, N.J., Feb. 07, 2023 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT) ("MICT" and the "Company") announced today it has appointed special legal counsel, Warshaw Burstein LLP, The Christian Levine Law Group and Greenberg Taurig LLP, together with an extensive team of expert advisors, to investigate the suspected market manipulation and naked short selling of the Company's stock and take appropriate action in the event there has been any such unlawful activity. Given the Company's level of consolidated group profitability following the acquisition of Tingo Mobile Limited ("Tingo Mobile"), a company whose Q3 2022 profit before tax equated to an annualized run rate of $650 million, and i
MONTVALE, NJ, Dec. 30, 2022 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT) ("MICT") announced today the results of the proxy vote associated with the Company's Annual Shareholders' Meeting. The shareholders approved all five of the resolutions presented in the Definitive Proxy Statement, as sent to the Company's shareholders on December 8, 2022, including the election of the Board of Directors and approval of the executive officers' compensation plan; the appointment of Deloitte as independent auditor for the year ended December 31, 2022; an amendment to the Company's Certificate of Incorporation and an amendment to its Equity Incentive Plan. Darren Mercer, Chief Executive Officer of MICT,
New Merger Structure is Expected to Lead to a Number of Significant and Immediate Benefits to MICT: Expedited Acquisition of 100% of Tingo's Operating Business and AssetsMICT to Consolidate the Revenues, Income and Balance Sheet of Tingo's Operations from Closing (Income Before Tax for 1HY 2022: $298.4 million - as previously reported within Tingo Inc Q2 2022 Form 10-Q)Allows for the Launch of Tingo's Food Produce Export Business in Q4 2022Accelerates the Shift to US Dollar Denominated Revenues for TingoExpedited Launch of Global Commodity Trading Platform MONTVALE, NJ, Oct. 07, 2022 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT) ("MICT") and Tingo, Inc. (OTC Markets: TMNA) ("Tingo"), toda
MONTVALE, N.J., May 17, 2022 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT) ("MICT" or the "Company"), today announces the appointment of Sir David Trippier as a non-executive member of its Board of Directors. Sir David has served as Chairman or director of numerous private and public companies, including as Chairman of London Stock Exchange listed stockbrokers, W H Ireland Group plc, Chairman of Cambridgeshire Horizons and Non-Executive Director of Granada Television. Prior to this, Sir David served in various ministerial positions in the United Kingdom Government between 1983 and 1992, having become a Member of Parliament of the United Kingdom in 1979. Between 1983 and 1987, Sir David wa
MONTVALE, N.J., April 16, 2021 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT), (the "Company"), today announced that it has appointed seasoned financial executive Robert Benton to MICT's Board of Directors, replacing Jeff Bialos, who resigned from the Company's board of directors, effective April 12, 2021. In addition, current board member, John Scott will assume the role of non-executive deputy chairman of the Company's board of directors. "We welcome Robert to our board of directors and look forward to his counsel as MICT continues to evolve into a global fintech company. Robert brings a wealth of experience from various prominent roles, including Clarksons, a FTSE 250 Company, where
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Stock Symbol to Change to NASDAQ: TIO New Identity Reflects Company's Focus on Leveraging the Tingo Brand and the Rapid Expansion of the Group's Consolidated Fintech and Agri-Fintech Businesses MONTVALE, N.J., Feb. 24, 2023 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT) ("MICT" or the "Company") announced today that it is changing its name to Tingo Group, Inc. effective prior to the market open on Monday, February 27, 2023. The ticker symbol "MICT" will change to "TIO" and the stock will continue to trade on the Nasdaq Capital Market. In conjunction with the change of name and ticker, the Company will launch a new Investor Relations website in the coming days, at tingogroup.com, which wi
Technologically Advanced Solar Power Plant to Provide Low-Cost, Sustainable Energy to Multi-Billion Dollar Food Processing Facility $150 million Evtec Energy Funded 110 Megawatt Solar Power Plant to Achieve Net Zero Carbon Emissions and Considerable Energy Cost Savings MONTVALE, N.J., Feb. 22, 2023 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT) ("MICT" or the "Company") announced today that its wholly owned subsidiary, Tingo Foods Plc ("Tingo Foods"), has entered into a partnership with Evtec Energy Plc ("Evtec Energy"), who have committed to build a $150 million net zero carbon emission solar plant to provide a sustainable and low-cost energy source to power Tingo Foods' multi-billion d
Tingo Visa Card and Payment Services Integrated with Revolutionary TingoPay Super App Collaboration on Merchant Services Aims to Transform Commerce and Trade Opportunities for Africa's Farmers and SME Businesses The TingoPay Super App and Platform Offers Retail Customers Access to a Unique Range of Value-Added Products MONTVALE, N.J., Feb. 14, 2023 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT) ("MICT"), through its wholly-owned subsidiary Tingo Mobile, and Visa (NYSE:V), the global leader in digital payments, today announced the launch of their pan-African strategic partnership, which aims to improve access to digital payments and financial services, and drive financial inclusion acros
Aims to be the Largest Food Processing Facility in Africa, Completing the Tingo Agricultural and Food Eco-System from Seed to Sale Farmers and Agricultural Sector in the Continent to Benefit from Significant Expansion of Africa's Own Processing Capabilities, Delivering Financial Upliftment and Empowerment Expected to Materially Reduce Farmers' Post-Harvest Losses and Achieve Significant Improvement in World's Food Security Along with Considerable Environmental Benefits Immediate Material Increase Expected in Revenues and Profitability MONTVALE, N.J., Feb. 09, 2023 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT) ("MICT" or the "Company") announced today that it has entered into a corporate
MONTVALE, N.J., Feb. 07, 2023 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT) ("MICT" and the "Company") announced today it has appointed special legal counsel, Warshaw Burstein LLP, The Christian Levine Law Group and Greenberg Taurig LLP, together with an extensive team of expert advisors, to investigate the suspected market manipulation and naked short selling of the Company's stock and take appropriate action in the event there has been any such unlawful activity. Given the Company's level of consolidated group profitability following the acquisition of Tingo Mobile Limited ("Tingo Mobile"), a company whose Q3 2022 profit before tax equated to an annualized run rate of $650 million, and i
MONTVALE, N.J., Feb. 03, 2023 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT) ("MICT" and the "Company") announced today it has entered into repurchase agreements with certain holders of the outstanding warrants over its common stock. Pursuant to the agreements, MICT will repurchase warrants representing an aggregate amount of 28,117,835 shares of its common stock, for which it is paying $0.15 per share on March 3, 2023 and $0.10 per share on May 1, 2023 at an aggregate cost to the Company of $7,029,459. Additionally, the Company has entered into an agreement with certain other warrant holders with respect to an additional 1,064,000 shares, who have agreed to grant the Company an option from
MONTVALE, NJ, Dec. 30, 2022 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT) ("MICT") announced today the results of the proxy vote associated with the Company's Annual Shareholders' Meeting. The shareholders approved all five of the resolutions presented in the Definitive Proxy Statement, as sent to the Company's shareholders on December 8, 2022, including the election of the Board of Directors and approval of the executive officers' compensation plan; the appointment of Deloitte as independent auditor for the year ended December 31, 2022; an amendment to the Company's Certificate of Incorporation and an amendment to its Equity Incentive Plan. Darren Mercer, Chief Executive Officer of MICT,
MONTVALE, NJ, Dec. 15, 2022 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT) ("MICT") announced today that it has received a Bid Price Compliance Letter from The Nasdaq Stock Market LLC ("Nasdaq") informing MICT that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market. MICT was previously notified by Nasdaq on February 2, 2022 that it was not in compliance with the minimum bid price rule because its common stock failed to meet the closing bid price of $1.00 or more for 30 consecutive business days, as required by the Nasdaq Listing Rules. To regain compliance with the Rule, the Company was re
Launch to Facilitate Expedited Rollout Across East Africa Region and Access to Key New Agricultural Products for its Commodity Trading and Export Business MONTVALE, NJ, Dec. 14, 2022 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT) ("MICT") announced that its wholly owned subsidiary, Tingo Mobile Limited ("Tingo Mobile" and together with MICT, the "Group"), has today launched in Malawi, as it establishes a strategic presence in East Africa and accelerates its pan-African rollout. Having already achieved a substantial user base in West Africa, which is expected to expand considerably in the coming months, Tingo Mobile's move into Malawi is an important development for a number of reasons. Whi
Through Access to Nigeria's 60 Million Farmers via AFAN, and Through the Farmers of Ghana and Several Other Territories Expected to Come Online Soon, Tingo has Access to up to Several Billion Dollars Per Annum of Agricultural Produce for Export First of Many Anticipated Commodity Export Deals Contracted, With Sales Value of $65 Million and Highly Profitable MONTVALE, NJ, Dec. 12, 2022 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT) ("MICT") announced that its wholly- owned subsidiary, Tingo Mobile Limited ("Tingo Mobile" and together with MICT, the "Group"), has today launched its global commodity platform and export business in partnership with the Dubai Multi Commodities Centre ("DMCC").
Stock Symbol to Change to NASDAQ: TIO New Identity Reflects Company's Focus on Leveraging the Tingo Brand and the Rapid Expansion of the Group's Consolidated Fintech and Agri-Fintech Businesses MONTVALE, N.J., Feb. 24, 2023 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT) ("MICT" or the "Company") announced today that it is changing its name to Tingo Group, Inc. effective prior to the market open on Monday, February 27, 2023. The ticker symbol "MICT" will change to "TIO" and the stock will continue to trade on the Nasdaq Capital Market. In conjunction with the change of name and ticker, the Company will launch a new Investor Relations website in the coming days, at tingogroup.com, which wil
Technologically Advanced Solar Power Plant to Provide Low-Cost, Sustainable Energy to Multi-Billion Dollar Food Processing Facility $150 million Evtec Energy Funded 110 Megawatt Solar Power Plant to Achieve Net Zero Carbon Emissions and Considerable Energy Cost Savings MONTVALE, N.J., Feb. 22, 2023 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT) ("MICT" or the "Company") announced today that its wholly owned subsidiary, Tingo Foods Plc ("Tingo Foods"), has entered into a partnership with Evtec Energy Plc ("Evtec Energy"), who have committed to build a $150 million net zero carbon emission solar plant to provide a sustainable and low-cost energy source to power Tingo Foods' multi-billion d
MICT, Inc. (NASDAQ:MICT) ("MICT") announced today the results of the proxy vote associated with the Company's Annual Shareholders' Meeting. The shareholders approved all five of the resolutions presented in the Definitive Proxy Statement, as sent to the Company's shareholders on December 8, 2022, including the election of the Board of Directors and approval of the executive officers' compensation plan; the appointment of Deloitte as independent auditor for the year ended December 31, 2022; an amendment to the Company's Certificate of Incorporation and an amendment to its Equity Incentive Plan.
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Stock Symbol to Change to NASDAQ: TIO New Identity Reflects Company's Focus on Leveraging the Tingo Brand and the Rapid Expansion of the Group's Consolidated Fintech and Agri-Fintech Businesses MONTVALE, N.J., Feb. 24, 2023 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT) ("MICT" or the "Company") announced today that it is changing its name to Tingo Group, Inc. effective prior to the market open on Monday, February 27, 2023. The ticker symbol "MICT" will change to "TIO" and the stock will continue to trade on the Nasdaq Capital Market. In conjunction with the change of name and ticker, the Company will launch a new Investor Relations website in the coming days, at tingogroup.com, which wi
Technologically Advanced Solar Power Plant to Provide Low-Cost, Sustainable Energy to Multi-Billion Dollar Food Processing Facility $150 million Evtec Energy Funded 110 Megawatt Solar Power Plant to Achieve Net Zero Carbon Emissions and Considerable Energy Cost Savings MONTVALE, N.J., Feb. 22, 2023 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT) ("MICT" or the "Company") announced today that its wholly owned subsidiary, Tingo Foods Plc ("Tingo Foods"), has entered into a partnership with Evtec Energy Plc ("Evtec Energy"), who have committed to build a $150 million net zero carbon emission solar plant to provide a sustainable and low-cost energy source to power Tingo Foods' multi-billion d
Tingo Visa Card and Payment Services Integrated with Revolutionary TingoPay Super App Collaboration on Merchant Services Aims to Transform Commerce and Trade Opportunities for Africa's Farmers and SME Businesses The TingoPay Super App and Platform Offers Retail Customers Access to a Unique Range of Value-Added Products MONTVALE, N.J., Feb. 14, 2023 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT) ("MICT"), through its wholly-owned subsidiary Tingo Mobile, and Visa (NYSE:V), the global leader in digital payments, today announced the launch of their pan-African strategic partnership, which aims to improve access to digital payments and financial services, and drive financial inclusion acros
Aims to be the Largest Food Processing Facility in Africa, Completing the Tingo Agricultural and Food Eco-System from Seed to Sale Farmers and Agricultural Sector in the Continent to Benefit from Significant Expansion of Africa's Own Processing Capabilities, Delivering Financial Upliftment and Empowerment Expected to Materially Reduce Farmers' Post-Harvest Losses and Achieve Significant Improvement in World's Food Security Along with Considerable Environmental Benefits Immediate Material Increase Expected in Revenues and Profitability MONTVALE, N.J., Feb. 09, 2023 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT) ("MICT" or the "Company") announced today that it has entered into a corporate
Revenue Increased 15% Quarter-over-Quarter to $13.8 Million Gross Profit from Insurance Business of $3.2 Million Increased 54% Quarter-Over-Quarter and 16% Year-over-Year Gross Margin of Insurance Business Increased to a Company Record 23% Acquisition of Tingo on Track for Completion by November 30, 2022 Tingo, Inc. Reports Q3 2022 Revenues of $291.7 Million and Income Before Tax and Share Based Payments of $160.6 Million MONTVALE, N.J., Nov. 14, 2022 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT), (the "Company"), today announced its financial results for the third quarter ended September 30, 2022. Q3 2022 Highlights and Recent Developments Insurance reve
Agreement Includes Commitment to Enroll a Minimum of 20 Million Additional Subscribers to Tingo Mobile's Agri-Fintech Platforms MONTVALE, NJ, Oct. 20, 2022 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT) ("MICT") and Tingo, Inc. (OTC Markets: TMNA) ("Tingo" or the "Company"), today announced that Tingo Mobile PLC ("Tingo Mobile"), which is being wholly acquired under a Merger Agreement with MICT (the "Business Combination"), has signed a trade agreement with the All Farmers Association of Nigeria (AFAN), the umbrella body of the 56 recognized commodities and agricultural associations in Nigeria. Under the terms of the agreement, AFAN has committed to add a minimum of 20 million additional su
MONTVALE, N.J., Aug. 22, 2022 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT), (the "Company"), today announced its financial results for the second quarter ended June 30, 2022. Q2 2022 Highlights and Recent Developments Insurance revenues for Q2 2022 amounted to $11.95 million, up 25% on Q1 2022 revenues, despite the impact of ongoing COVID lockdown protocols in China.Gross profit margins in the insurance business also improved during Q2 2022, increasing to 17.4% compared to 13.0% in Q1 2022, due to the combination of higher revenues and a focus on writing more profitable business.Improving revenues and margins helped the insurance business reduce its EBITDA losses in Q2 2022 to aroun
MONTVALE, N.J., July 25, 2022 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT), (the "Company"), today announced its financial results for the first quarter ended March 31, 2022. Q1 2022 Highlights and Recent Developments Insurance business revenue for Q1 2022 amounted to $9.5m, up 16% against the year ago period, although overall revenues were impacted by strict COVID lockdown protocols in China.B2B2C activities anticipated to launch during Q3 2022 through partnerships with several of China's largest companies.Insurance business is seeing significant improvement as China begins to open after months of lockdowns, pursuant to which it expects to achieve profitability and a cash posit
$9.2M in Gross Profit by Insurance Business for Full Year 2021, of which $3.9M in Gross Profit Was Delivered in Q4, Equating to Quarter-over-Quarter Growth of 39.3% Due Diligence on Tingo Inc. Has Been Completed and The Merger Agreement Updated and Reaffirmed MONTVALE, N.J., June 17, 2022 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT), (the "Company"), today announced its financial results for the fourth quarter and fiscal year ended December 31, 2021. Year End 2021 Highlights and Recent Developments Announced definitive merger agreement with Tingo Inc. ("Tingo"), which on May 16, 2022 announced total revenues for Q1 2022 of $257.1m, operating income of $65.5m and Non-GAAP adjust
Management to Conduct Conference Call Today, November 15, 2021 at 8:30AM ET MONTVALE, N.J., Nov. 15, 2021 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ:MICT), (the "Company"), today announced its financial results for the third quarter ended September 30, 2021. Q3 2021 Highlights and Recent Developments Insurance business revenues increased to $18.5 million, up 50% over the second quarter, driven primarily from B2B salesGross profit increased to $2.7 million, up 312% over the second quarterNon-GAAP net loss was $3.1 million, down from $8.9 million for Q2Company obtained further licences, allowing it to distribute insurance products nationwide for B2B, and for the first time B2B2C a