Hongli Clean Energy Technologies Corp. (CETC) lost ground during morning trading on September 22 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector halfway through the trading day. At the lunch break, shares of CETC have fallen 6.45% to $0.29 after closing the day prior at $0.31. So far, the stock has traded as high as $0.32 and as low as $0.29. Today’s decline has come with about 47,490 shares changing hands, compared to an average 30-day volume of 22,621 for Hongli Clean Energy Technologies Corp.. The price is currently below the 30-day volume weighted average price of $0.3 for CETC.
The share depreciation gives the company a market capitalization of $7.43 million based upon 23.96 million shares outstanding. It also means that CETC has a price-to-book ratio of 0.29:1.
In the past 52 weeks, shares of CETC have traded as low as $0.2601 and as high as $0.76. Technical traders will take note that at $0.29, shares of CETC are trading below their 200-day MA at $0.39 and below their 50-day MA at $0.36. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is CETC?
Hongli Clean Energy Technologies Corp is a coal and coke producer based in Henan Province, Peoples Republic of China. It also generate electricity from gas emitted during the coking process. The company’s 193 employees are led by CEO Jianhua Lv from the corporate headquarters at Kuanggong Road and Tiyu Road, 10th Floor in Pingdingshan, .
For more information on CETC and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit FinancialPress.com today.
All data provided by QuoteMedia, with stock data accurate as of 12:00 PM ET. FinancialPress.com is not responsible for inaccuracies in third-party supplied information.
FinancialPress.com is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of FinancialPress.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://financialpress.com/legal-disclaimer/.