Etao International Co Ltd. [NASDAQ: ETAO] jumped around 0.01 points on Tuesday, while shares priced at $0.14 at the close of the session, up 4.45%. The company report on January 12, 2024 at 4:30 PM that ETAO Announces receiving a staff determination – Delinquency letter from Nasdaq.
ETAO International Co. Ltd. announced today that it received a staff determination – Delinquency letter (the “Letter”), on January 5, 2024, from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company has not yet filed its interim financial statements for the period ended June 30, 2023 (the “Filing”), it no longer complies with our Listing Rules (the “Rules”) for continued listing. Accordingly, this matter serves as an additional basis for delisting the Company’s securities from The Nasdaq Stock Market.
Under Nasdaq rules, a Company that receives a delist determination for delinquency, can request an appeal to a Hearings Panel, pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series. The Company is working on a plan to present to the Panel in an effort to regain compliance with the Listing Rules and will have a Hearing on March 12, 2024. The Hearing Panel will review the request for an extended stay and notify the Company of its conclusion as soon as is practicable but in any event no later than 15 calendar days following the deadline to request a further stay.
Compared to the average trading volume of 95.86K shares, ETAO reached a trading volume of 4015424 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Etao International Co Ltd. [ETAO]?
The Average True Range (ATR) for Etao International Co Ltd. is set at 0.03 The Price to Book ratio for the last quarter was 17.49, with the Price to Cash per share for the same quarter was set at 0.02.
How has ETAO stock performed recently?
Etao International Co Ltd. [ETAO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.83. With this latest performance, ETAO shares dropped by -31.38% in over the last four-week period, additionally sinking by -55.23% over the last 6 months – not to mention a drop of -91.86% 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 ETAO stock in for the last two-week period is set at 36.49, with the RSI for the last a single of trading hit 35.92, and the three-weeks RSI is set at 37.91 for Etao International Co Ltd. [ETAO]. The present Moving Average for the last 50 days of trading for this stock 0.2105, while it was recorded at 0.1371 for the last single week of trading, and 0.3411 for the last 200 days.
Etao International Co Ltd. [ETAO]: Deeper insight into the fundamentals
Etao International Co Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.83 and a Current Ratio set at 2.93.
Insider trade positions for Etao International Co Ltd. [ETAO]
The top three institutional holders of ETAO 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 ETAO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ETAO stock with ownership which is approximately 5.8325%.
