Code Chain New Continent Limited [CCNC] Stock trading around $8.81 per share: What’s Next?

Code Chain New Continent Limited [NASDAQ: CCNC] jumped around 1.1 points on Wednesday, while shares priced at $8.81 at the close of the session, up 14.27%. The company report on February 23, 2021 that Code Chain New Continent Limited Announces Purchasing of 10,000 Bitcoin Mining Machines.

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Code Chain New Continent Limited (the “Company” or “Code Chain”) (NASDAQ: CCNC), a leading eco-technology company, announced that the Company has entered into a purchase agreement (the “Agreement”) with Chengdu RiZhanYunJisuan Co., Ltd. (the “Seller”) pursuant to which the Company will purchase 10,000 Innosilicon T2T Bitcoin mining machines for approximately RMB 40 million (approximately USD 6.2 million). The closing of the transaction is subject to the completion of final valuation and due diligence by the Company.

Under the term of the Agreement, a total consideration of RMB 40 million to acquire 10,000 Innosilicon T2T mining machines will be paid on the closing date. Upon the completion, the purchased machines will be stored and managed by the Seller. The daily net profit earned by miners will be deposited into the Company’s digital account. Addition performance bonus in the form of Company’s shares shall be granted to the Seller based on achievement of aggregate average daily net profit of RMB 200,000 during the one year period following the closing date (“Valuation Period”).

Code Chain New Continent Limited stock is now 354.12% up from its year-to-date (YTD) trading value. CCNC Stock saw the intraday high of $9.00 and lowest of $7.66 per share. The company’s 52-week high price is 11.62, which means current price is +392.18% above from all time high which was touched on 02/17/21.

Compared to the average trading volume of 832.91K shares, CCNC reached a trading volume of 1001278 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Code Chain New Continent Limited [CCNC]?

The Average True Range (ATR) for Code Chain New Continent Limited is set at 1.10, with the Price to Sales ratio for CCNC stock in the period of the last 12 months amounting to 25.91. The Price to Book ratio for the last quarter was 10.36, with the Price to Cash per share for the same quarter was set at 0.18.

How has CCNC stock performed recently?

Code Chain New Continent Limited [CCNC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.26. With this latest performance, CCNC shares gained by 333.99% in over the last four-week period, additionally plugging by 499.32% over the last 6 months – not to mention a rise of 489.02% 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 CCNC stock in for the last two-week period is set at 73.49, with the RSI for the last a single of trading hit 73.10, and the three-weeks RSI is set at 73.34 for Code Chain New Continent Limited [CCNC]. The present Moving Average for the last 50 days of trading for this stock 3.18, while it was recorded at 7.83 for the last single week of trading, and 2.01 for the last 200 days.

Code Chain New Continent Limited [CCNC]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Code Chain New Continent Limited [CCNC] shares currently have an operating margin of -1.48 and a Gross Margin at +2.87. Code Chain New Continent Limited’s Net Margin is presently recorded at -2.12.

Return on Total Capital for CCNC is now -2.21, given the latest momentum, and Return on Invested Capital for the company is -3.25. Return on Equity for this stock declined to -3.27, with Return on Assets sitting at -1.50. When it comes to the capital structure of this company, Code Chain New Continent Limited [CCNC] has a Total Debt to Total Equity ratio set at 2.06. Additionally, CCNC Total Debt to Total Capital is recorded at 2.01, with Total Debt to Total Assets ending up at 0.55. Long-Term Debt to Equity for the company is recorded at 1.03, with the Long-Term Debt to Total Capital now at 1.01.

Receivables Turnover for the company is 5.56 with a Total Asset Turnover recorded at a value of 0.71.Code Chain New Continent Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.60 and a Current Ratio set at 2.90.

Insider trade positions for Code Chain New Continent Limited [CCNC]

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1 institutional holders increased their position in Code Chain New Continent Limited [NASDAQ:CCNC] by around 68,593 shares. Additionally, 1 investors decreased positions by around 1,782 shares, while 0 investors held positions by with 1,782 shares. The mentioned changes placed institutional holdings at 68,593 shares, according to the latest SEC report filing. CCNC stock had 1 new institutional investments in for a total of 68,593 shares, while 1 institutional investors sold positions of 1,782 shares during the same period.

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