Rosenblatt Securities Analyst On NQ Mobile Earnings: 'People Already Expect The Result Will Not Be Good'

Speaking to Benzinga about the NQ Mobile Inc (NYSE: NQ) earnings expected later Thursday, Rosenblatt Securities Analyst Jun Zhang said that the stock price shows people are already anticipating a bad result.

“We’re going to see some of the share price already diluted by some accretions,” he said.

Zhang explained that the stock already pulled back, so there isn’t much downside risk. He thinks the stock is still pretty cheap between $4-$5, but he didn’t have a valuation for it.

ETFs holding NQ Mobile are mixed Thursday. The PowerShares Gld Drg Haltr USX China (NYSE: PGJ) was trading more than 2 percent higher, while the Claymore/AlphaShares China Small Cap (NYSE: HAO) was trading slightly down.