Cloopen Group Holding Limited [NYSE: RAAS] loss -11.95% or -2.36 points to close at $17.39 with a heavy trading volume of 2264916 shares. The company report on February 9, 2021 that Cloopen Group Holding Limited Announces Pricing of Initial Public Offering.
Cloopen Group Holding Limited (“Cloopen” or the “Company”) (NYSE: RAAS), a leading multi-capability cloud-based communications solution provider in China, announced the pricing of its initial public offering of 20,000,000 American depositary shares (“ADSs”), each representing two (2) Class A ordinary shares of the Company, at a price to the public of US$16.00 per ADS for a total offering size of US$320.0 million, assuming the underwriters do not exercise their option to purchase additional ADSs. The ADSs are expected to begin trading on the New York Stock Exchange under the symbol “RAAS.” The offering is expected to close on February 11, 2021, subject to customary closing conditions.
The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 3,000,000 additional ADSs.
If we look at the average trading volume of 4.35M shares, RAAS reached to a volume of 2264916 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 Cloopen Group Holding Limited [RAAS]:
Goldman have made an estimate for Cloopen Group Holding Limited shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 08, 2021. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on March 08, 2021, representing the official price target for Cloopen Group Holding Limited stock.
The Average True Range (ATR) for Cloopen Group Holding Limited is set at 5.64
Trading performance analysis for RAAS stock
Cloopen Group Holding Limited [RAAS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -21.98.
Cloopen Group Holding Limited [RAAS]: A deeper dive into fundamental analysis
Cloopen Group Holding Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.