Home / Basic Materials / Midday Update: Hongli Clean Energy Technologies Corp. (CETC) Charges Ahead 10.47% on September 23

Midday Update: Hongli Clean Energy Technologies Corp. (CETC) Charges Ahead 10.47% on September 23

Hongli Clean Energy Technologies Corp. (CETC) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector during morning trading on September 23. At the lunch break, shares of CETC have gained 10.47% to $0.33 after closing the day prior at $0.29. In the first two and a half hours of trading, the stock has gone as high as $0.33 and as low as $0.3. Today’s rise has come with about 10,696 shares changing hands, compared to an average 30-day volume of 24,276 for Hongli Clean Energy Technologies Corp.. The price is currently below the 30-day volume weighted average price of $0.31 for CETC.

The share appreciation gives the company a market capitalization of $7.07 million based upon 23.96 million shares outstanding. It also means that CETC has a price-to-book ratio of 0.27:1.

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 $0.33, shares of CETC are trading below their 200-day MA at $0.39 and below their 50-day MA at $0.35. 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 above them is typically regarded as bullish.

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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