Cenntro Electric Group Limited [CENN] Stock trading around $1.58 per share: What’s Next?

Cenntro Electric Group Limited [NASDAQ: CENN] traded at a high on 08/08/22, posting a 3.95 gain after which it closed the day’ session at $1.58. The company report on August 8, 2022 that Cenntro Electric to Establish Subsidiary Cennatic for Advanced Lithium-Ion Battery Production in North America.

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U.S. Based Subsidiary will Secure Supply for Electric Commercial Vehicles.

Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV technology company with advanced, market-validated electric commercial vehicles, today announced the establishment of a separate operating division and wholly owned U.S. subsidiary, Cennatic Power Inc. (“Cennatic”) to manufacture advanced lithium-ion batteries to be used for its electric commercial vehicles.

The results of the trading session contributed to over 6263608 shares changing hands. Over the past one week, the price volatility of Cenntro Electric Group Limited stands at 5.92% while the volatility over the past one month is 5.40%.

The market cap for CENN stock reached $431.80 million, with 175.09 million shares outstanding and 161.21 million shares in the current float. Compared to the average trading volume of 4.49M shares, CENN reached a trading volume of 6263608 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Cenntro Electric Group Limited [CENN]?

The Average True Range (ATR) for Cenntro Electric Group Limited is set at 0.10, with the Price to Sales ratio for CENN stock in the period of the last 12 months amounting to 50.21. The Price to Book ratio for the last quarter was 1.05, with the Price to Cash per share for the same quarter was set at 0.96.

How has CENN stock performed recently?

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 6.04. With this latest performance, CENN shares dropped by -11.24% in over the last four-week period, additionally sinking by 0.00% over the last 6 months – not to mention a drop of -80.46% 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 48.23, with the RSI for the last a single of trading hit 51.29, and the three-weeks RSI is set at 47.37 for Cenntro Electric Group Limited [CENN]. The present Moving Average for the last 50 days of trading for this stock 1.7152, while it was recorded at 1.5520 for the last single week of trading, and 3.5714 for the last 200 days.

Cenntro Electric Group Limited [CENN]: Deeper insight into the 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.

Insider trade positions for Cenntro Electric Group Limited [CENN]

There are presently around $12 million, or 5.80% 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 38.29% of the total institutional ownership; MILLENNIUM MANAGEMENT LLC, holding 1,019,455 shares of the stock with an approximate value of $1.61 million in CENN stocks shares; and JPMORGAN CHASE & CO, currently with $1.45 million in CENN stock with ownership of nearly New of the company’s market capitalization.

37 institutional holders increased their position in Cenntro Electric Group Limited [NASDAQ:CENN] by around 6,550,833 shares. Additionally, 20 investors decreased positions by around 84,343 shares, while 15 investors held positions by with 942,539 shares. The mentioned changes placed institutional holdings at 7,577,715 shares, according to the latest SEC report filing. CENN stock had 25 new institutional investments in for a total of 5,832,938 shares, while 13 institutional investors sold positions of 27,116 shares during the same period.


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