Cenn Stock Forecast: $CENN continues to Underperform NASDAQ even as EV Stocks Rise

Cenn Stock Forecast: $CENN continues to Underperform NASDAQ even as EV Stocks Rise
Cenn Stock Forecast: Highlights

Latest CENN Stock Price

MetricValueTrend
Share Volume1,339Lower
Forward P/E (1 Year)N/AN/A

CENN Stock Forecast: Performance Summary

Last 5 daysYTD
CENN+4.6%-81.3%
MULN-16.6%-94.7%
NASDAQ-5.3%-33.9%

Cenntro Stock Forecast Updated: What Lies in the Store for This Penny Stock

Cenntro Electric (CENN) listed on the stock exchange last year after merging into Naked Brands (an Australian seller of intimate apparel) has been a penny stock trading at only $1.26 (as of 5th September 2022). Let us analyze what should investors keep in mind before investing in this penny stock:

  • Merger with defunct Naked Brand is not logical- Naked brand merged with Cenntro group in December 2021 via SPAC model, but this merger makes no sense for Cenntro group. The nakd brand had a brief run as meme stock in January 2021, when they announced to take the business into an e-commerce model, Reddit users liked the idea and took the share price from 40 cents to $1.75, apart from this Nakd was a loss-making company and merger with such a company has done no good to Cenntro Group. An intimate apparel brand is not likely to be accepted in the EV space which already has such fierce competition.
  • Cenntro Starts Production of LogiStar 100 – As per reports, Cenntro Automotive has started production of LogiStar 100. It has a range of 75 miles, but can carry 1150 pounds and has 73 cubic feet of cargo space. Another worthy product under the belt is LogiStar 260 and both vehicles have passed the test for sale in European Union. The company plans to set up its first plant outside the US in Bulgaria. It is working on the possibility with its probable French partners.

The problems with Cenntro group are evident. Firstly, it is a penny stock with a stock price of just under $1.3 which makes it vulnerable to being manipulated. Secondly, the quarter results are not positive for the company. For instance, the company had a sale of just $6.6 million in the last six months ending July and reported a loss of $33 million.

It is better to avoid such penny stocks formed out of the SPAC merger till at least the company turns profitable in this competitive EV space.

Read: Best EV stocks to buy in 2022

Technical Analysis

 AnalystSupportResistanceRecommendation
Investing.com$1.27(S3)$1.29(R1)Buy
Barchart.com$1.21(S3)$1.31(R1)Sell

Google Search Analysis

Google Search Volume for CENN is lower as yesterday.

Cenn Stock Forecast: Tweet

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CENN Gets listed on Russell 2000®, Russell 3000® and Russell Microcap® Indexes

  • Reportedly, Cenntro Electric Group Limited, a leading EV maker, has been listed on the Russell 2000®, Russell 3000® and Russell Microcap® Indexes.
  • This inclusion mark a significant milestone in the considerable growth of CENN over the past year. 
  • Financial managers and institutional investors majorly use Russell indexes during active investment strategies. 

Read LUCID Stock Forecast

Cenntro Stock Forecast: Sentiment Analysis

DayLast 7 daysLast 24 HoursTrend
Net Social Media Sentiment+39.3%+49.1%Higher

CENN Stock: Momentum Summary

IndicatorsTrend
OverallPartially Negative
1. Market’s WisdomPartially Negative
1a. Market DataLower
1b. Technical RecommendationNeutral
2. Crowd’s WisdomNeutral
2a. Google Search (Daily)Lower
2b. Social Media SentimentHigher

Read Disney Stock Forecast

-Rakesh Atla

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

Cenn stock forecast
Subhash

Subhash

Subhash, Founder of Crowdwisdom360 is an MBA and a Trained Financial Advisor with an extensive background in Forecasting in Financial Services and Politics. He has appeared many times on National TV and has written for a variety of magazines on Wealth Management and Election Strategy.