Meten EdtechX Education Group Ltd. [NASDAQ: METX] plunged by -$0.01 during the normal trading session on Tuesday and reaching a high of $0.3806 during the day while it closed the day at $0.36. The company report on September 8, 2021 that Meten Holding Group Ltd. Closes $60 Million Underwritten Public Offering of Ordinary Shares and Pre-Funded Warrants to Purchase Ordinary Shares (NASDAQ: METX).
Meten Holding Group Ltd. (“Meten Holding” or the “Company”) (NASDAQ: METX), one of the leading omnichannel English language training (“ELT”) service providers in China, announced the closing of an underwritten public offering (the “Offering”) with gross proceeds to the Company of $60 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. The Offering included 22,500,000 of the Company’s ordinary shares at the public offering price of $0.30 per share and 177,500,000 pre-funded warrants. The pre-funded warrants were offered at the public offering price of $0.2999 per share, with a $0.0001 per share exercise price for each pre-funded warrant. The Company intends to use the net proceeds from this Offering for capital expenditures and general corporate and working capital needs.
Aegis Capital Corp. acted as the sole book-running manager for the Offering.
Meten EdtechX Education Group Ltd. stock has also loss -9.63% of its value over the past 7 days. However, METX stock has declined by -63.10% in the 3 months of the year. Over the past six months meanwhile, it has lost -86.44% and lost -82.18% year-on date.
The market cap for METX stock reached $45.90 million, with 128.75 million shares outstanding and 93.56 million shares in the current float. Compared to the average trading volume of 10.73M shares, METX reached a trading volume of 23039434 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Meten EdtechX Education Group Ltd. [METX]:
The Average True Range (ATR) for Meten EdtechX Education Group Ltd. is set at 0.07, with the Price to Sales ratio for METX stock in the period of the last 12 months amounting to 0.32.
METX stock trade performance evaluation
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 -9.63. With this latest performance, METX shares dropped by -36.76% in over the last four-week period, additionally sinking by -86.44% over the last 6 months – not to mention a drop of -95.76% 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 37.84, with the RSI for the last a single of trading hit 35.84, and the three-weeks RSI is set at 38.29 for Meten EdtechX Education Group Ltd. [METX]. The present Moving Average for the last 50 days of trading for this stock 0.5897, while it was recorded at 0.3781 for the last single week of trading, and 1.5977 for the last 200 days.
Meten EdtechX Education Group Ltd. [METX]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Meten EdtechX Education Group Ltd. [METX] shares currently have an operating margin of -44.68 and a Gross Margin at +30.49. Meten EdtechX Education Group Ltd.’s Net Margin is presently recorded at -45.82.
Additionally, METX Total Debt to Total Capital is recorded at 536.31, with Total Debt to Total Assets ending up at 42.36.
Reflecting on the efficiency of the workforce at the company, Meten EdtechX Education Group Ltd. [METX] managed to generate an average of -$16,927 per employee.
Meten EdtechX Education Group Ltd. [METX]: Insider Ownership positions
There are presently around $1 million, or 6.00% of METX stock, in the hands of institutional investors. The top three institutional holders of METX stocks are: SABBY MANAGEMENT, LLC with ownership of 733,840, which is approximately New of the company’s market cap and around 32.92% of the total institutional ownership; AMUNDI, holding 511,112 shares of the stock with an approximate value of $0.18 million in METX stocks shares; and AMUNDI ASSET MANAGEMENT US, INC., currently with $0.18 million in METX stock with ownership of nearly -1.709% of the company’s market capitalization.
Positions in Meten EdtechX Education Group Ltd. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 14 institutional holders increased their position in Meten EdtechX Education Group Ltd. [NASDAQ:METX] by around 1,568,626 shares. Additionally, 7 investors decreased positions by around 183,678 shares, while 0 investors held positions by with 666,429 shares. The mentioned changes placed institutional holdings at 2,418,733 shares, according to the latest SEC report filing. METX stock had 9 new institutional investments in for a total of 1,459,248 shares, while 4 institutional investors sold positions of 67,789 shares during the same period.