Home / Basic Materials / Hongli Clean Energy Technologies Corp. (CETC) Leads Basic Materials Laggards with a drop of 4.84% on September 22

Hongli Clean Energy Technologies Corp. (CETC) Leads Basic Materials Laggards with a drop of 4.84% on September 22

Hongli Clean Energy Technologies Corp. (CETC” target=”_new”>CETC) was one of the weakest stocks in the basic materials sector of the NYSE and NASDAQ listed companies on September 22, skidding 4.84% to close the day at $0.29 after closing the day prior at $0.31. Throughout the day, shares of CETC” target=”_new”>CETC traded as high as $0.32 and as low as $0.29. Today’s decline came with about 51,751 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” target=”_new”>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” target=”_new”>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” target=”_new”>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, .

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