Advent Technologies Holdings Inc [NASDAQ: ADN] jumped around 0.06 points on Monday, while shares priced at $0.22 at the close of the session, up 38.89%. The company report on February 26, 2024 at 7:00 AM that Advent Technologies Receives Formal Invitation from Greek State for €24 Million Grant for the Green HiPo IPCEI Project.
Advent Technologies, an innovation-driven leader in the fuel cell and hydrogen technology sectors, is pleased to announce that its wholly owned subsidiary, Advanced Energy Technologies S.A., has received the formal invitation from the Greek Ministry of Economy and Finance to immediately submit the requested documentation for its Green HiPo Important Project of Common European Interest (“IPCEI”) project.
After Advent submits the requested documentation, the Greek Ministry of Economy and Finance is expected to proceed with the disbursement of a €24 million state aid package from Greece’s Just Transition Fund (JTF) for the implementation of the Green HiPo project. Expenses related to the project are eligible for reimbursement retroactive to June 15, 2022, the date of notification to the European Union’s Directorate-General for Competition of Greece’s participation in the IPCEI Hy2Tech program. Advent will also look to secure additional funding to round out the full €60 million which was authorized under the IPCEI’s project budget.
Compared to the average trading volume of 990.20K shares, ADN reached a trading volume of 12367659 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Advent Technologies Holdings Inc [ADN]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ADN shares is $0.45 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ADN stock is a recommendation set at 3.00. 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.
Goldman have made an estimate for Advent Technologies Holdings Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 18, 2021. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on March 19, 2021, representing the official price target for Advent Technologies Holdings Inc stock.
The Average True Range (ATR) for Advent Technologies Holdings Inc is set at 0.02, with the Price to Sales ratio for ADN stock in the period of the last 12 months amounting to 3.07. The Price to Book ratio for the last quarter was 0.43, with the Price to Cash per share for the same quarter was set at 0.08.
How has ADN stock performed recently?
Advent Technologies Holdings Inc [ADN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 34.73. With this latest performance, ADN shares gained by 35.79% in over the last four-week period, additionally sinking by -60.42% over the last 6 months – not to mention a drop of -87.90% 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 ADN stock in for the last two-week period is set at 68.56, with the RSI for the last a single of trading hit 80.12, and the three-weeks RSI is set at 57.97 for Advent Technologies Holdings Inc [ADN]. The present Moving Average for the last 50 days of trading for this stock 0.1988, while it was recorded at 0.1786 for the last single week of trading, and 0.5004 for the last 200 days.
Advent Technologies Holdings Inc [ADN]: Deeper insight into the fundamentals
Advent Technologies Holdings Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.75 and a Current Ratio set at 1.84.
Earnings analysis for Advent Technologies Holdings Inc [ADN]
With the latest financial reports released by the company, Advent Technologies Holdings Inc posted -0.31/share EPS, while the average EPS was predicted by analysts to be reported at -0.12/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -158.30%. 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 ADN.
Insider trade positions for Advent Technologies Holdings Inc [ADN]
The top three institutional holders of ADN 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 ADN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ADN stock with ownership which is approximately 5.8325%.
