EZGO Technologies Ltd [NASDAQ: EZGO] traded at a low on Wednesday, posting a -27.83 loss after which it closed the day’ session at $0.04. The company report on April 10, 2024 at 7:00 AM that EZGO Announces 1-for-40 Reverse Share Split Effective April 12, 2024.
EZGO Technologies Ltd. (Nasdaq: EZGO) (“EZGO” or “we,” “our,” or the “Company”), a leading short-distance transportation solutions provider in China, today announced that on March 22, 2024, its board of directors approved a reverse split of its ordinary shares on a one-for-forty basis (the “Reverse Share Split”). The Company’s ordinary shares will begin trading on a post-split basis on April 12, 2024.
As a result of the Reverse Share Split, each forty (40) pre-split ordinary shares of the Company will be automatically combined into one (1) ordinary share without any action on the part of the holders, with par value of the ordinary shares of the Company being changed from $0.001 per share to $0.04 per share, and the Company’s issued and outstanding ordinary shares will be reduced from 102,165,549 to approximately 2,554,139. The Company’s ordinary shares will continue to trade on the Nasdaq Capital Market (“Nasdaq”) under the symbol “EZGO” under a new CUSIP number – G5279F110. The Reverse Share Split is intended to increase the market price per share of the Company’s ordinary shares to allow the Company to maintain its Nasdaq listing.
The results of the trading session contributed to over 10986668 shares changing hands. Over the past one week, the price volatility of EZGO Technologies Ltd stands at 12.06% while the volatility over the past one month is 11.25%.
The market cap for EZGO stock reached $4.38 million, with 102.10 million shares outstanding and 94.10 million shares in the current float. Compared to the average trading volume of 2.42M shares, EZGO reached a trading volume of 10986668 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about EZGO Technologies Ltd [EZGO]?
The Average True Range (ATR) for EZGO Technologies Ltd is set at 0.01, with the Price to Sales ratio for EZGO stock in the period of the last 12 months amounting to 0.28. The Price to Book ratio for the last quarter was 0.07, with the Price to Cash per share for the same quarter was set at 0.18.
How has EZGO stock performed recently?
EZGO Technologies Ltd [EZGO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -31.49. With this latest performance, EZGO shares dropped by -57.47% in over the last four-week period, additionally sinking by -69.16% over the last 6 months – not to mention a drop of -97.07% 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 EZGO stock in for the last two-week period is set at 23.89, with the RSI for the last a single of trading hit 19.01, and the three-weeks RSI is set at 28.07 for EZGO Technologies Ltd [EZGO]. The present Moving Average for the last 50 days of trading for this stock 0.0864, while it was recorded at 0.0567 for the last single week of trading, and 0.6006 for the last 200 days.
EZGO Technologies Ltd [EZGO]: Deeper insight into the fundamentals
EZGO Technologies Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.02 and a Current Ratio set at 4.79.
Insider trade positions for EZGO Technologies Ltd [EZGO]
The top three institutional holders of EZGO stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in EZGO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in EZGO stock with ownership which is approximately 5.8386%.
