Cenntro Electric Group Limited [CENN] moved down -8.12: Why It’s Important

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Cenntro Electric Group Limited [NASDAQ: CENN] loss -8.12% or -0.13 points to close at $1.47 with a heavy trading volume of 5339274 shares. The company report on May 9, 2022 that Nuvve and Cenntro Announce Alliance to Accelerate Adoption of Commercial Electric Vehicles.

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Electric vehicle manufacturer Cenntro to offer all-in-one electrification solution for commercial fleets by offering Nuvve charging stations with US vehicles.

Nuvve Holding Corp. (Nasdaq: NVVE), a global cleantech company electrifying the planet at the intersection of energy and transportation through its intelligent energy platform, and Cenntro Electric Group Limited (NASDAQ: CENN), a leading designer and manufacturer of electric light- and medium-duty commercial vehicles, announced an alliance today at the Advanced Clean Transportation Expo, to offer an all-in-one electrification solution for commercial fleets. The alliance between these companies is designed to provide electric vehicle fleet solutions to shared and non-shared clients and reflects their strategy to onboard more EVs in an intelligent and cost-effective way to the electric grid.

It opened the trading session at $1.55, the shares rose to $1.64 and dropped to $1.45, the range by which the price of stock traded the whole day. The daily chart for CENN points out that the company has recorded -86.95% loss over the past six months. However, it is still -40.0% lower than its most recent low trading price.

If we look at the average trading volume of 10.12M shares, CENN reached to a volume of 5339274 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 Cenntro Electric Group Limited [CENN]:

The Average True Range (ATR) for Cenntro Electric Group Limited is set at 0.18, with the Price to Sales ratio for CENN stock in the period of the last 12 months amounting to 9.90. The Price to Book ratio for the last quarter was 0.97, with the Price to Cash per share for the same quarter was set at 1.03.

Trading performance analysis for CENN stock

Cenntro Electric Group Limited [CENN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.53. With this latest performance, CENN shares dropped by -19.67% in over the last four-week period, additionally sinking by -86.95% over the last 6 months – not to mention a drop of -80.51% 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 CENN stock in for the last two-week period is set at 42.23, with the RSI for the last a single of trading hit 40.76, and the three-weeks RSI is set at 42.63 for Cenntro Electric Group Limited [CENN]. The present Moving Average for the last 50 days of trading for this stock 1.7467, while it was recorded at 1.6080 for the last single week of trading, and 5.8382 for the last 200 days.

Cenntro Electric Group Limited [CENN]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Cenntro Electric Group Limited [CENN] shares currently have an operating margin of -191.89 and a Gross Margin at +2.73. Cenntro Electric Group Limited’s Net Margin is presently recorded at -191.47.

Cenntro Electric Group Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.30 and a Current Ratio set at 10.60.

An analysis of insider ownership at Cenntro Electric Group Limited [CENN]

There are presently around $3 million, or 0.50% of CENN stock, in the hands of institutional investors. The top three institutional holders of CENN stocks are: JPMORGAN CHASE & CO with ownership of 915,749, which is approximately New of the company’s market cap and around 39.20% of the total institutional ownership; MORGAN STANLEY, holding 316,585 shares of the stock with an approximate value of $0.51 million in CENN stocks shares; and PALOMA PARTNERS MANAGEMENT CO, currently with $0.34 million in CENN stock with ownership of nearly New of the company’s market capitalization.

30 institutional holders increased their position in Cenntro Electric Group Limited [NASDAQ:CENN] by around 1,949,307 shares. Additionally, 30 investors decreased positions by around 167,332 shares, while 8 investors held positions by with 51,293 shares. The mentioned changes placed institutional holdings at 2,167,932 shares, according to the latest SEC report filing. CENN stock had 18 new institutional investments in for a total of 1,334,538 shares, while 24 institutional investors sold positions of 165,473 shares during the same period.