Cenntro Electric Group Limited [CENN] Stock trading around $1.77 per share: What’s Next?

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Cenntro Electric Group Limited [NASDAQ: CENN] surged by $0.15 during the normal trading session on Monday and reaching a high of $1.77 during the day while it closed the day at $1.77. The company report on May 13, 2022 that Cenntro Electric Group Expands Global Production Capacity with Acquisition of Advanced Manufacturing Facility in China.


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Production Capacity of 50,000 Vehicles Annually Once 474,000 Square Foot Facility Becomes Fully Operational.

Cenntro Electric Group Limited (NASDAQ: CENN) (“Cenntro” or the “Company”), a leading EV technology company with advanced, market-validated electric commercial vehicles, today announced the acquisition of a new manufacturing facility in Changxing, Huzhou City, China, for a purchase price of approximately $19.5 million. The new 474,000 square foot facility will allow Cenntro to expand its production capacity.

Cenntro Electric Group Limited stock has also gained 19.59% of its value over the past 7 days. However, CENN stock has inclined by 29.20% in the 3 months of the year. Over the past six months meanwhile, it has lost -81.78% and lost -66.98% year-on date.

The market cap for CENN stock reached $433.86 million, with 175.09 million shares outstanding and 161.21 million shares in the current float. Compared to the average trading volume of 9.85M shares, CENN reached a trading volume of 6370643 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 Cenntro Electric Group Limited [CENN]:

The Average True Range (ATR) for Cenntro Electric Group Limited is set at 0.17, with the Price to Sales ratio for CENN stock in the period of the last 12 months amounting to 50.45. The Price to Book ratio for the last quarter was 1.17, with the Price to Cash per share for the same quarter was set at 1.07.

CENN stock trade performance evaluation

Cenntro Electric Group Limited [CENN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 19.59. With this latest performance, CENN shares gained by 1.72% in over the last four-week period, additionally sinking by -81.78% over the last 6 months – not to mention a drop of -79.36% 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 53.38, with the RSI for the last a single of trading hit 57.61, and the three-weeks RSI is set at 50.39 for Cenntro Electric Group Limited [CENN]. The present Moving Average for the last 50 days of trading for this stock 1.7699, while it was recorded at 1.5960 for the last single week of trading, and 5.7423 for the last 200 days.

Cenntro Electric Group Limited [CENN]: An insightful look at the core fundamentals

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.

Cenntro Electric Group Limited [CENN]: Insider Ownership positions

There are presently around $11 million, or 0.80% of CENN stock, in the hands of institutional investors. The top three institutional holders of CENN stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 1,317,631, which is approximately New of the company’s market cap and around 39.20% of the total institutional ownership; MILLENNIUM MANAGEMENT LLC, holding 1,019,455 shares of the stock with an approximate value of $1.65 million in CENN stocks shares; and JPMORGAN CHASE & CO, currently with $1.48 million in CENN stock with ownership of nearly New of the company’s market capitalization.

40 institutional holders increased their position in Cenntro Electric Group Limited [NASDAQ:CENN] by around 6,070,681 shares. Additionally, 18 investors decreased positions by around 92,439 shares, while 10 investors held positions by with 600,867 shares. The mentioned changes placed institutional holdings at 6,763,987 shares, according to the latest SEC report filing. CENN stock had 23 new institutional investments in for a total of 5,040,377 shares, while 12 institutional investors sold positions of 77,592 shares during the same period.

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