Meihua International Medical Technologies Co Ltd [NASDAQ: MHUA] closed the trading session at $0.92. The company report on January 2, 2024 at 5:19 PM that Meihua International Medical Technologies Co., Ltd. Announces Closing of Initial $6 Million Tranche of Potential $50.5 Million Maximum Offering.
Meihua International Medical Technologies Co., Ltd. (“MHUA” or the “Company”) (NASDAQ: MHUA), a reputable manufacturer and provider of Class I, II and III disposable medical devices with operating subsidiaries in China, today announced the closing of its previously disclosed registered direct offering with certain accredited institutional investors to purchase an initial $6 million tranche in the offering of up to $50.5 million of its 7% Original Issue Discount Senior Convertible Promissory Notes (the “Initial Notes”), and five-year ordinary share purchase warrants to purchase 1,205,255 ordinary shares of the Company (the “Initial Warrants”), exercisable at $2.9869 per ordinary share, in a concurrent private placement, for gross proceeds of approximately $5,580,000.
After deducting the placement agent’s commission and other offering expenses payable by the Company, the net proceeds to the Company were approximately $4,800,000. The Company intends to use the net proceeds for general working capital purposes.
The stocks have a year to date performance of -37.84 percent and weekly performance of -3.26 percent. The stock has been moved at -72.94 percent over the last six months. The stock has performed 0.51 percent around the most recent 30 days and changed -47.73 percent over the most recent 3-months.
If compared to the average trading volume of 293.27K shares, MHUA reached to a volume of 17017216 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Meihua International Medical Technologies Co Ltd [MHUA]:
The Average True Range (ATR) for Meihua International Medical Technologies Co Ltd is set at 0.14, with the Price to Sales ratio for MHUA stock in the period of the last 12 months amounting to 0.23. The Price to Book ratio for the last quarter was 0.16, with the Price to Cash per share for the same quarter was set at 0.75.
MHUA stock trade performance evaluation
Meihua International Medical Technologies Co Ltd [MHUA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.26. With this latest performance, MHUA shares gained by 0.51% in over the last four-week period, additionally sinking by -72.94% over the last 6 months – not to mention a drop of -94.77% 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 MHUA stock in for the last two-week period is set at 41.88, with the RSI for the last a single of trading hit 43.39, and the three-weeks RSI is set at 41.33 for Meihua International Medical Technologies Co Ltd [MHUA]. The present Moving Average for the last 50 days of trading for this stock 1.3677, while it was recorded at 0.9698 for the last single week of trading, and 2.2522 for the last 200 days.
Meihua International Medical Technologies Co Ltd [MHUA]: An insightful look at the core fundamentals
Meihua International Medical Technologies Co Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.62 and a Current Ratio set at 5.70.
Meihua International Medical Technologies Co Ltd [MHUA]: Institutional Ownership
The top three institutional holders of MHUA 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 MHUA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MHUA stock with ownership which is approximately 5.8325%.
