Cenntro (NASDAQ:CENN) Trading Up 4.7% – Here’s Why

Cenntro Inc. (NASDAQ:CENN)’s stock price shot up 4.7% during trading on Tuesday . The stock traded as high as $1.11 and last traded at $1.11. 75,329 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 129,025 shares. The stock had previously closed at $1.06.

Cenntro Trading Up 4.7 %

The firm has a fifty day moving average of $1.23 and a 200 day moving average of $1.36.

Cenntro (NASDAQ:CENN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.29) earnings per share (EPS) for the quarter. The company had revenue of $16.73 million during the quarter. Cenntro had a negative net margin of 109.17% and a negative return on equity of 37.17%.

Institutional Trading of Cenntro

A hedge fund recently raised its stake in Cenntro stock. Geode Capital Management LLC increased its position in shares of Cenntro Inc. (NASDAQ:CENN) by 8.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 277,490 shares of the company’s stock after buying an additional 20,767 shares during the period. Geode Capital Management LLC owned about 0.90% of Cenntro worth $325,000 at the end of the most recent reporting period.

About Cenntro

Cenntro Inc engages in the design, development, and manufacture of electric light and medium-duty commercial vehicles in Europe, Asia, and the United States. Its purpose-built electric commercial vehicles are designed to serve various fleet and municipal organizations in support of city services, last-mile delivery, and other commercial applications.