Green Giant Inc [GGE] Is Currently -0.27 below its 200 Period Moving Avg: What Does This Mean?

Green Giant Inc [NASDAQ: GGE] loss -0.27% or 0.0 points to close at $0.04 with a heavy trading volume of 5922353 shares. The company report on December 12, 2023 at 9:00 AM that Green Giant Inc. Announces Pricing of Public Offering.

Green Giant Inc. (NASDAQ:GGE) (“GGE” or the “Company”), a real estate developer in China and operator of green energy business in the U.S. today announced that it has entered into a securities purchase agreement with certain accredited investors to sell $5.95 million of its units, each consisting of one share of its common stock, $0.001 par value per share, one Class A common warrant to purchase one share of common stock and one Class B common warrant to purchase one share of common stock, and pre-funded units, each consisting of one pre-funded warrant, one Class A common warrant to purchase one share of common stock and one Class B common warrant to purchase one share of common stock,.

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Under the terms of the securities purchase agreement, GGE has agreed to sell 35,000,000 units at a per unit purchase price of $0.17. The Class A common warrants will be exercisable immediately upon the increase of the Company’s authorized shares for a term of five years and have an initial exercise price of $0.17 subject to certain reset 30 trading days after the increase of the Company’s authorized shares. The Class B common warrants will be exercisable immediately upon the date of issuance for a term of five years and have an initial exercise price of $0.27. In addition to the customary cashless exercise rights provided in both the Class A common warrants and the Class B common warrants, the Class B common warrants will also provide an alternate cashless exercise allowing the holder to right to exercise at any time, on a cashless exercise basis for a larger number of shares of common stock under certain conditions. The Company agreed to hold a shareholders’ meeting within 120 days of closing of the Offering to increase the authorized share of common stock of the Company. The holders of the warrants agreed not to exercise cashlessly below $1.50 during the first 20 trading days after effectuation of a reverse split of the common stock.

The daily chart for GGE points out that the company has recorded -98.09% loss over the past six months.

If we look at the average trading volume of 13.09M shares, GGE reached to a volume of 5922353 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Green Giant Inc [GGE]:

The Average True Range (ATR) for Green Giant Inc is set at 0.02, with the Price to Sales ratio for GGE stock in the period of the last 12 months amounting to 2.74. The Price to Book ratio for the last quarter was 0.13, with the Price to Cash per share for the same quarter was set at 0.02.

Trading performance analysis for GGE stock

Green Giant Inc [GGE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.27. With this latest performance, GGE shares dropped by -25.45% in over the last four-week period, additionally sinking by -98.09% over the last 6 months – not to mention a drop of -98.61% 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 GGE stock in for the last two-week period is set at 33.27, with the RSI for the last a single of trading hit 31.84, and the three-weeks RSI is set at 35.01 for Green Giant Inc [GGE]. The present Moving Average for the last 50 days of trading for this stock 0.2763, while it was recorded at 0.0396 for the last single week of trading, and 1.3593 for the last 200 days.

An analysis of Institutional ownership at Green Giant Inc [GGE]

The top three institutional holders of GGE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in GGE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in GGE stock with ownership which is approximately 5.8325%.