Market cap of Cenntro Electric Group Limited [CENN] reaches 443.81M – now what?

Cenntro Electric Group Limited [NASDAQ: CENN] stock went on an upward path that rose over 4.27% on Tuesday, amounting to a one-week price increase of more than 12.50%. The company report on August 15, 2022 that Cenntro Electric Announces Strategic Action to End Channel Partner Distribution in the US.

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Cenntro to Assemble and Market its Metro Product Directly in the US.

Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV technology company with advanced, market-validated electric commercial vehicles, today announced a strategic action to assemble its Metro product in-house and market Metro directly to its own distributors in the United States. Cenntro will now have full control over the production and sale of the Metro EV model and will end channel partner distribution in the US.

Over the last 12 months, CENN stock dropped by -77.76%.

The market cap for the stock reached $443.81 million, with 175.09 million shares outstanding and 161.21 million shares in the current float. Compared to the average trading volume of 4.45M shares, CENN stock reached a trading volume of 6557805 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 0.10, with the Price to Sales ratio for CENN stock in the period of the last 12 months amounting to 51.61. The Price to Book ratio for the last quarter was 1.13, with the Price to Cash per share for the same quarter was set at 1.01.

CENN Stock Performance Analysis:

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 12.50. With this latest performance, CENN shares gained by 4.27% in over the last four-week period, additionally plugging by 24.82% over the last 6 months – not to mention a drop of -77.76% 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 CENN stock in for the last two-week period is set at 59.26, with the RSI for the last a single of trading hit 68.02, and the three-weeks RSI is set at 54.47 for Cenntro Electric Group Limited [CENN]. The present Moving Average for the last 50 days of trading for this stock 1.6864, while it was recorded at 1.5840 for the last single week of trading, and 3.3415 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 $37 million, or 6.50% of CENN stock, in the hands of institutional investors. The top three institutional holders of CENN stocks are: BLACKROCK INC. with ownership of 9,220,659, which is approximately New of the company’s market cap and around 38.29% of the total institutional ownership; STATE STREET CORP, holding 3,506,417 shares of the stock with an approximate value of $6.0 million in CENN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $2.85 million in CENN stock with ownership of nearly 1198.793% of the company’s market capitalization.

53 institutional holders increased their position in Cenntro Electric Group Limited [NASDAQ:CENN] by around 19,694,991 shares. Additionally, 26 investors decreased positions by around 4,687,756 shares, while 16 investors held positions by with 2,968,764 shares. The mentioned changes placed institutional holdings at 21,413,983 shares, according to the latest SEC report filing. CENN stock had 38 new institutional investments in for a total of 13,914,518 shares, while 15 institutional investors sold positions of 1,813,367 shares during the same period.


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