Friday, January 15, 2021

Meten EdtechX Education Group Ltd. [METX] Stock trading around $1.74 per share: What’s Next?

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Meten EdtechX Education Group Ltd. [NASDAQ: METX] stock went on a downward path that fall over -4.40% on Wednesday, amounting to a one-week price decrease of less than -12.12%. The company report on January 7, 2021 that Meten EdtechX Announces Change of Auditor.

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Meten EdtechX Education Group Ltd. (Nasdaq: METX) (“Meten EdtechX” or the “Company”), a leading English language training (“ELT”) service provider in China, announced the appointment of Audit Alliance LLP (“Audit Alliance”) as the Company’s independent auditor effective on January 7, 2021.


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Audit Alliance replaces KPMG Huazhen LLP (“KPMG”), previously the independent auditor for the Company. The appointment of Audit Alliance was made after a careful and thorough evaluation process and has been recommended for approval by the audit committee of the board (the “Board”) of directors of the Company, and approved by the Board on December 29, 2020.

Over the last 12 months, METX stock dropped by -82.94%.

The market cap for the stock reached $85.35 million, with 53.29 million shares outstanding and 15.69 million shares in the current float. Compared to the average trading volume of 267.92K shares, METX stock reached a trading volume of 853482 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Meten EdtechX Education Group Ltd. [METX]:

The Average True Range (ATR) for Meten EdtechX Education Group Ltd. is set at 0.25, with the Price to Sales ratio for METX stock in the period of the last 12 months amounting to 0.83.

METX Stock Performance Analysis:

Meten EdtechX Education Group Ltd. [METX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.12. With this latest performance, METX shares dropped by -41.81% in over the last four-week period, additionally sinking by -85.54% over the last 6 months – not to mention a drop of -82.94% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for METX stock in for the last two-week period is set at 34.37, with the RSI for the last a single of trading hit 34.02, and the three-weeks RSI is set at 34.00 for Meten EdtechX Education Group Ltd. [METX]. The present Moving Average for the last 50 days of trading for this stock 2.5827, while it was recorded at 1.8400 for the last single week of trading, and 8.2439 for the last 200 days.

Insight into Meten EdtechX Education Group Ltd. Fundamentals:

Meten EdtechX Education Group Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.30.

Meten EdtechX Education Group Ltd. [METX] Insider Position Details

There are presently around $1 million, or 7.00% of METX stock, in the hands of institutional investors. The top three institutional holders of METX stocks are: AMUNDI PIONEER ASSET MANAGEMENT INC with ownership of 260,000, which is approximately 0% of the company’s market cap and around 70.56% of the total institutional ownership; INVESCO LTD., holding 47,139 shares of the stock with an approximate value of $86000.0 in METX stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $22000.0 in METX stock with ownership of nearly New of the company’s market capitalization.

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7 institutional holders increased their position in Meten EdtechX Education Group Ltd. [NASDAQ:METX] by around 66,640 shares. Additionally, 0 investors decreased positions by around 0 shares, while 1 investors held positions by with 260,321 shares. The mentioned changes placed institutional holdings at 326,961 shares, according to the latest SEC report filing. METX stock had 6 new institutional investments in for a total of 64,801 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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