Cenntro Electric Group Limited (NASDAQ:CENN) shares, rose in value on Thursday, 05/25/23, with the stock price up by 0.26% to the previous day’s close as strong demand from buyers drove the stock to $0.31.
Actively observing the price movement in the last trading, the stock closed the session at $0.31, falling within a range of $0.3074 and $0.3278. Referring to stock’s 52-week performance, its high was $2.27, and the low was $0.26. On the whole, CENN has fluctuated by -12.38% over the past month.
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With the market capitalization of Cenntro Electric Group Limited currently standing at about $88.23 million, investors are eagerly awaiting this quarter’s results, scheduled for Sep 13, 2022.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CENN’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CENN currently trading nearly -13.47% and -20.61% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 32.60, while the 7-day volatility ratio is showing 7.49% which for the 30-day chart, stands at 7.90%. Furthermore, Cenntro Electric Group Limited (CENN)’s beta value is 1.47, and its average true range (ATR) is 0.03.
Data on historical trading for Cenntro Electric Group Limited (NASDAQ:CENN) indicates that the trading volumes over the past 10 days have averaged 1.77 million and over the past 3 months, they’ve averaged 1.83 million. According to company’s latest data on outstanding shares, there are 261.26 million shares outstanding.
Nearly 37.12% of Cenntro Electric Group Limited’s shares belong to company insiders and institutional investors own 8.30% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 13.04 million shares as on May 14, 2023, resulting in a short ratio of 8.66. According to the data, the short interest in Cenntro Electric Group Limited (CENN) stood at 4.99% of shares outstanding as of May 14, 2023; the number of short shares registered in Apr 13, 2023 reached 12.26 million. The stock has fallen by -29.23% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CENN stock heading into the next quarter.