Pingtan Marine Enterprise Ltd. [NASDAQ: PME] loss -29.68% or -0.46 points to close at $1.09 with a heavy trading volume of 3544233 shares. The company report on March 4, 2021 that Pingtan Marine Enterprise Ltd. Announces $4,750,000 Registered Direct Offering of Ordinary Shares and Warrants.
Pingtan Marine Enterprise Ltd. (Nasdaq: PME), (“Pingtan,” or the “Company”), a fishing company based in the People’s Republic of China, announced that it has agreed to sell 3,625,954 ordinary shares at a price of $1.31 per share, and 2,719,464 five-year warrants to purchase ordinary shares at an exercise price of $1.31 per share, in a registered direct offering. The net proceeds to Pingtan from this offering are expected to be approximately $4.2 million. The offering is expected to close on or about March 8, 2021, subject to customary closing conditions.
Spartan Capital Securities, LLC is acting as sole placement agent for the offering.
It opened the trading session at $1.35, the shares rose to $1.38 and dropped to $0.92, the range by which the price of stock traded the whole day. The daily chart for PME points out that the company has recorded 25.87% gains over the past six months. However, it is still -91.23% lower than its most recent low trading price.
If we look at the average trading volume of 191.63K shares, PME reached to a volume of 3544233 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Pingtan Marine Enterprise Ltd. [PME]:
The Average True Range (ATR) for Pingtan Marine Enterprise Ltd. is set at 0.16, with the Price to Sales ratio for PME stock in the period of the last 12 months amounting to 0.97. The Price to Book ratio for the last quarter was 0.59, with the Price to Cash per share for the same quarter was set at 0.04.
Trading performance analysis for PME stock
Pingtan Marine Enterprise Ltd. [PME] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -23.78. With this latest performance, PME shares dropped by -32.30% in over the last four-week period, additionally plugging by 25.87% over the last 6 months – not to mention a drop of -20.44% 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 PME stock in for the last two-week period is set at 24.57, with the RSI for the last a single of trading hit 19.98, and the three-weeks RSI is set at 28.53 for Pingtan Marine Enterprise Ltd. [PME]. The present Moving Average for the last 50 days of trading for this stock 1.7254, while it was recorded at 1.4220 for the last single week of trading, and 1.5348 for the last 200 days.
Pingtan Marine Enterprise Ltd. [PME]: A deeper dive into fundamental analysis
Pingtan Marine Enterprise Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 1.00.
An analysis of insider ownership at Pingtan Marine Enterprise Ltd. [PME]
There are presently around $0 million, or 0.10% of PME stock, in the hands of institutional investors. The top three institutional holders of PME stocks are: GEODE CAPITAL MANAGEMENT, LLC with ownership of 41,107, which is approximately 0% of the company’s market cap and around 57.25% of the total institutional ownership; CITADEL ADVISORS LLC, holding 13,139 shares of the stock with an approximate value of $14000.0 in PME stocks shares; and VIRTU FINANCIAL LLC, currently with $14000.0 in PME stock with ownership of nearly New of the company’s market capitalization.
2 institutional holders increased their position in Pingtan Marine Enterprise Ltd. [NASDAQ:PME] by around 26,169 shares. Additionally, 0 investors decreased positions by around 0 shares, while 2 investors held positions by with 51,891 shares. The mentioned changes placed institutional holdings at 78,060 shares, according to the latest SEC report filing. PME stock had 2 new institutional investments in for a total of 26,169 shares, while 0 institutional investors sold positions of 0 shares during the same period.