Cenntro Electric Group Limited [CENN] Stock trading around $1.69 per share: What’s Next?


Cenntro Electric Group Limited [NASDAQ: CENN] stock went on a downward path that fall over -7.14% on Monday, amounting to a one-week price decrease of less than -14.21%. The company report on June 27, 2022 that Cenntro Electric Group Added to Russell 2000®, Russell 3000® and Russell Microcap® Indexes.

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Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV technology company with advanced, market-validated electric commercial vehicles, today announced that it has been added the Russell 2000®, Russell 3000® and Russell Microcap® Indexes effective after the market close on June 24, 2022 as part of FTSE Russell’s annual reconstitution.

The Russell 3000® Index is comprised of the largest 3,000 US companies by market capitalization, representing approximately 97% of the investable US equity market. The Russell 2000®, a subset of the Russell 3000® Index, is comprised of 2,000 publicly traded small-capitalization companies. The Russell Microcap® Index consists of the microcap segment of the US equity market and is comprised of the smallest 1,000 securities in the small-cap Russell 2000® Index, plus the next 1,000 smallest eligible securities by market capitalization.

Over the last 12 months, CENN stock dropped by -83.55%.

The market cap for the stock reached $482.77 million, with 175.09 million shares outstanding and 161.21 million shares in the current float. Compared to the average trading volume of 6.75M shares, CENN stock reached a trading volume of 8004559 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 56.14. The Price to Book ratio for the last quarter was 1.12, with the Price to Cash per share for the same quarter was set at 0.91.

CENN Stock Performance Analysis:

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 -14.21. With this latest performance, CENN shares gained by 3.68% in over the last four-week period, additionally sinking by -71.16% over the last 6 months – not to mention a drop of -83.55% 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 43.82, with the RSI for the last a single of trading hit 38.42, and the three-weeks RSI is set at 46.03 for Cenntro Electric Group Limited [CENN]. The present Moving Average for the last 50 days of trading for this stock 1.7410, while it was recorded at 1.8960 for the last single week of trading, and 4.7596 for the last 200 days.

Insight into Cenntro Electric Group Limited 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 Position Details

There are presently around $13 million, or 2.60% 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 38.29% of the total institutional ownership; MILLENNIUM MANAGEMENT LLC, holding 1,019,455 shares of the stock with an approximate value of $1.85 million in CENN stocks shares; and JPMORGAN CHASE & CO, currently with $1.67 million in CENN stock with ownership of nearly New of the company’s market capitalization.

41 institutional holders increased their position in Cenntro Electric Group Limited [NASDAQ:CENN] by around 6,186,607 shares. Additionally, 15 investors decreased positions by around 38,107 shares, while 11 investors held positions by with 655,200 shares. The mentioned changes placed institutional holdings at 6,879,914 shares, according to the latest SEC report filing. CENN stock had 24 new institutional investments in for a total of 5,156,232 shares, while 10 institutional investors sold positions of 23,320 shares during the same period.