Sunday, April 11, 2021

Code Chain New Continent Limited [CCNC] is 84.54% higher this YTD. Is it still time to buy?

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Code Chain New Continent Limited [NASDAQ: CCNC] loss -5.54% or -0.21 points to close at $3.58 with a heavy trading volume of 1077229 shares. The company report on March 18, 2021 that Code Chain New Continent Limited Announces Delivery and Deployment of 10,000 Purchased Bitcoin Mining Machines.

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Code Chain New Continent Limited (the “Company” or “Code Chain” or “We”) (NASDAQ: CCNC), a leading eco-technology company, announced that it completed the previously announced purchase of 10,000 Innosilicon T2T Bitcoin mining machines with Chengdu RiZhanYunJisuan Co., Ltd. The miners are expected to be immediately deployed to provide an estimated 240 PH/s of Bitcoin mining hash rate capacity.


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To ensure regulatory compliance with mining machine delivery, the Company’s Chief Financial Officer, Auditor, local legal counsel, and a third-party evaluation advisor supervised and diligently guided the proper delivery procedure of the 10,000 miners at several locations in Xinjiang, China from March 2 to 5, 2021.

It opened the trading session at $3.68, the shares rose to $3.86 and dropped to $3.55, the range by which the price of stock traded the whole day. The daily chart for CCNC points out that the company has recorded 297.82% gains over the past six months. However, it is still -411.43% lower than its most recent low trading price.

If we look at the average trading volume of 1.45M shares, CCNC reached to a volume of 1077229 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 Code Chain New Continent Limited [CCNC]:

The Average True Range (ATR) for Code Chain New Continent Limited is set at 0.84, with the Price to Sales ratio for CCNC stock in the period of the last 12 months amounting to 15.60. The Price to Book ratio for the last quarter was 4.21, with the Price to Cash per share for the same quarter was set at 0.12.

Trading performance analysis for CCNC stock

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 -10.72. With this latest performance, CCNC shares dropped by -45.92% in over the last four-week period, additionally plugging by 297.82% over the last 6 months – not to mention a rise of 315.27% 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 40.41, with the RSI for the last a single of trading hit 35.70, and the three-weeks RSI is set at 43.92 for Code Chain New Continent Limited [CCNC]. The present Moving Average for the last 50 days of trading for this stock 4.68, while it was recorded at 3.79 for the last single week of trading, and 2.37 for the last 200 days.

Code Chain New Continent Limited [CCNC]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at 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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