Golden Heaven Group Holdings Ltd [NASDAQ: GDHG] slipped around -0.01 points on Tuesday, while shares priced at $0.50 at the close of the session, down -2.87%. The company report on February 22, 2024 at 8:00 AM that Golden Heaven Group Holdings Ltd. Announces $6,000,000 Share Repurchase Program.
Golden Heaven Group Holdings Ltd. (the “Company” or “Golden Heaven”) (Nasdaq: GDHG), an amusement park operator in China, announced today that on February 21, 2024, the Company’s Board of Directors (the “Board”) has authorized a share repurchase program authorizing the Company to repurchase up to US$6,000,000 of the Company’s outstanding Class A ordinary shares from time to time during a 24-month period (the “Share Repurchase Program”). The Share Repurchase Program will be facilitated by Dawson James Securities, Inc.
The Board has determined that the Share Repurchase Program is in the best interest of the Company’s shareholders based on its analysis and estimation that the current share price is significantly lower than the intrinsic value and that the Share Repurchase Program may improve shareholders’ confidence in the Company. The Board will be periodically reviewing the Share Repurchase Program and may authorize adjustments of its terms and size.
Compared to the average trading volume of 1.68M shares, GDHG reached a trading volume of 10550559 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Golden Heaven Group Holdings Ltd [GDHG]?
The Average True Range (ATR) for Golden Heaven Group Holdings Ltd is set at 0.17, with the Price to Sales ratio for GDHG stock in the period of the last 12 months amounting to 0.81. The Price to Book ratio for the last quarter was 0.42, with the Price to Cash per share for the same quarter was set at 0.00.
How has GDHG stock performed recently?
Golden Heaven Group Holdings Ltd [GDHG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.11. With this latest performance, GDHG shares dropped by -8.11% in over the last four-week period, additionally sinking by -83.39% over the last 6 months.
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 GDHG stock in for the last two-week period is set at 31.36, with the RSI for the last a single of trading hit 40.86, and the three-weeks RSI is set at 31.88 for Golden Heaven Group Holdings Ltd [GDHG]. The present Moving Average for the last 50 days of trading for this stock 0.6638, while it was recorded at 0.4796 for the last single week of trading, and 6.0099 for the last 200 days.
Golden Heaven Group Holdings Ltd [GDHG]: Deeper insight into the fundamentals
Golden Heaven Group Holdings Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.99 and a Current Ratio set at 0.99.
Insider trade positions for Golden Heaven Group Holdings Ltd [GDHG]
The top three institutional holders of GDHG 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 GDHG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in GDHG stock with ownership which is approximately 5.8325%.
