Code Chain New Continent Limited [CCNC] Is Currently 38.79 above its 200 Period Moving Avg: What Does This Mean?

Code Chain New Continent Limited [NASDAQ: CCNC] stock went on an upward path that rose over 38.79% on Wednesday, amounting to a one-week price increase of more than 40.40%. The company report on December 13, 2021 that Code Chain New Continent Limited Announces Withdrawal of Proposed Public Offering.

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Code Chain New Continent Limited (the “Company,” or “Code Chain” or “We”) (NASDAQ: CCNC), a vertically integrated cryptocurrency miner has determined that given the market conditions it is not in the best interest of the Company and its shareholders to raise equity capital at this time and intends to withdraw its previously announced underwritten public offering of common stock and warrants.

Over the last 12 months, CCNC stock dropped by -81.83%.

The market cap for the stock reached $12.61 million, with 41.07 million shares outstanding and 28.95 million shares in the current float. Compared to the average trading volume of 1.27M shares, CCNC stock reached a trading volume of 40292761 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Code Chain New Continent Limited [CCNC]:

The Average True Range (ATR) for Code Chain New Continent Limited is set at 0.05, with the Price to Sales ratio for CCNC stock in the period of the last 12 months amounting to 0.49. The Price to Book ratio for the last quarter was 0.74.

CCNC Stock Performance Analysis:

Code Chain New Continent Limited [CCNC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 40.40. With this latest performance, CCNC shares dropped by -11.20% in over the last four-week period, additionally sinking by -73.33% over the last 6 months – not to mention a drop of -81.83% 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 CCNC stock in for the last two-week period is set at 53.51, with the RSI for the last a single of trading hit 58.28, and the three-weeks RSI is set at 49.31 for Code Chain New Continent Limited [CCNC]. The present Moving Average for the last 50 days of trading for this stock 0.2422, while it was recorded at 0.2077 for the last single week of trading, and 0.6541 for the last 200 days.

Insight into Code Chain New Continent Limited Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Code Chain New Continent Limited [CCNC] shares currently have an operating margin of -58.52 and a Gross Margin at +32.96. Code Chain New Continent Limited’s Net Margin is presently recorded at -63.22.

Return on Equity for this stock declined to -39.98, with Return on Assets sitting at -31.39.

Code Chain New Continent Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

Code Chain New Continent Limited [CCNC] Insider Position Details

There are presently around $0 million, or 5.00% of CCNC stock, in the hands of institutional investors. The top three institutional holders of CCNC stocks are: SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC with ownership of 113,494, which is approximately -6.956% of the company’s market cap and around 30.64% of the total institutional ownership; CITADEL ADVISORS LLC, holding 58,034 shares of the stock with an approximate value of $13000.0 in CCNC stocks shares; and VIRTU FINANCIAL LLC, currently with $4000.0 in CCNC stock with ownership of nearly -68.495% of the company’s market capitalization.

2 institutional holders increased their position in Code Chain New Continent Limited [NASDAQ:CCNC] by around 13,596 shares. Additionally, 3 investors decreased positions by around 57,747 shares, while 3 investors held positions by with 150,563 shares. The mentioned changes placed institutional holdings at 221,906 shares, according to the latest SEC report filing. CCNC stock had 2 new institutional investments in for a total of 13,596 shares, while 0 institutional investors sold positions of 0 shares during the same period.


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