BlackRock Fund Advisors recently announced the acquisition of new stake in Cenntro Electric Group Limited (NASDAQ:CENN). The institutional investor has increased its shareholding in the Consumer Cyclical company by 2.55% to 8.46 million shares with purchase of 0.21 million shares. This fresh investment now brings its stake to 3.24% valued currently at $3.72 million. In addition, SSgA Funds Management, Inc. raised its holdings by 18771.0 to 3.53 million shares. And Geode Capital Management LLC has lifted its position by 2.16% or 35862.0 shares – to 1.7 million shares.
With over 7.59 million Cenntro Electric Group Limited (CENN) shares trading Monday and a closing price of $0.81 on the day, the dollar volume was approximately $6.15 million. The shares have shown a negative half year performance of -46.82% and its price on 02/06/23 gained nearly 1.00%. Currently, there are 261.26M common shares owned by the public and among those 161.26M shares have been available to trade.
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Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Cenntro Electric Group Limited are iShares Russell 2000 ETF, iShares Russell 2000 Value ETF, and Fidelity Small Cap Index Fund. iShares Russell 2000 ETF owns 4.25 million shares of the company’s stock, all valued at over $1.87 million. The company sold 44347.0 shares recently to bring their total holdings to about 1.63% of the shares outstanding. iShares Russell 2000 Value ETF sold 12155.0 shares to see its total holdings shrink to 1.89 million shares valued at over $0.83 million and representing 0.72% of the shares outstanding. Fidelity Small Cap Index Fund now owns shares totaling to 0.56% of the shares outstanding.
However, the script later moved the day high at 0.8709, up 1.00%. The company’s stock has a 5-day price change of 11.20% and -24.45% over the past three months. CENN shares are trading 83.73% year to date (YTD), with the 12-month market performance down to -46.46% lower. It has a 12-month low price of $0.26 and touched a high of $3.00 over the same period. CENN has an average intraday trading volume of 6.61 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 36.47%, 53.66%, and -32.29% respectively.
Institutional ownership of Cenntro Electric Group Limited (NASDAQ: CENN) shares accounts for 8.30% of the company’s 261.26M shares outstanding. Mutual fund holders own 25.03%, while other institutional holders and individual stakeholders account for 5.38% and 2.87% respectively.
It has a market capitalization of $206.85M and a beta (3y monthly) value of 1.41. The earnings-per-share (ttm) stands at -$0.09. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.22% over the week and 10.36% over the month.
