Charge Enterprises Inc [NASDAQ: CRGE] closed the trading session at $0.05. The company report on February 22, 2024 at 4:15 PM that Charge Enterprises Announces Decision of Nasdaq Hearings Panel To Delist Common Shares.
Charge Enterprises, Inc. (Nasdaq: CRGE) (“Charge” or the “Company”), today announced that on February 20, 2024, the Company received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that trading of its common stock will be suspended as of the opening of business on February 29, 2024 (the “Delisting Letter”).
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The Company had previously been notified by Nasdaq on August 22, 2023, that it was no longer in compliance with Nasdaq Listing Rule 5450(a)(1) because the closing bid price per share for the Company’s Common Stock had closed below $1.00 for the previous 30 consecutive business days. The Company had applied for an additional 180-day compliance period to regain compliance with Nasdaq Listing Rule 5550(a)(2) (the “Extension Request”).
The stocks have a year to date performance of -52.76 percent and weekly performance of -46.10 percent. The stock has been moved at -90.54 percent over the last six months. The stock has performed -63.38 percent around the most recent 30 days and changed -77.36 percent over the most recent 3-months.
If compared to the average trading volume of 18.15M shares, CRGE reached to a volume of 66375043 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 Charge Enterprises Inc [CRGE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CRGE shares is $4.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CRGE stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
H.C. Wainwright have made an estimate for Charge Enterprises Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 14, 2022. While these analysts kept the previous recommendation, Maxim Group raised their target price to Buy. The new note on the price target was released on May 23, 2022, representing the official price target for Charge Enterprises Inc stock.
The Average True Range (ATR) for Charge Enterprises Inc is set at 0.02, with the Price to Sales ratio for CRGE stock in the period of the last 12 months amounting to 0.02. The Price to Book ratio for the last quarter was 0.48, with the Price to Cash per share for the same quarter was set at 0.27. Price to Free Cash Flow for CRGE in the course of the last twelve months was 0.62 with Quick ratio for the last quarter at 0.93.
CRGE stock trade performance evaluation
Charge Enterprises Inc [CRGE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -46.10. With this latest performance, CRGE shares dropped by -63.38% in over the last four-week period, additionally sinking by -90.54% over the last 6 months – not to mention a drop of -95.43% 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 CRGE stock in for the last two-week period is set at 28.44, with the RSI for the last a single of trading hit 17.77, and the three-weeks RSI is set at 33.80 for Charge Enterprises Inc [CRGE]. The present Moving Average for the last 50 days of trading for this stock 0.1182, while it was recorded at 0.0767 for the last single week of trading, and 0.5304 for the last 200 days.
Charge Enterprises Inc [CRGE]: An insightful look at the core fundamentals
Charge Enterprises Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.93 and a Current Ratio set at 0.94.
Earnings per share (EPS) analysis for Charge Enterprises Inc [CRGE] stock
With the latest financial reports released by the company, Charge Enterprises Inc posted -0.06/share EPS, while the average EPS was predicted by analysts to be reported at -0.06/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CRGE.
Charge Enterprises Inc [CRGE]: Institutional Ownership
The top three institutional holders of CRGE 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 CRGE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CRGE stock with ownership which is approximately 5.8325%.
