CENN Stock Forecast: CENN trades higher, Outlook is Positive

CENN Stock Forecast: CENN trades higher, Outlook is Positive
5 2 votes
Article Rating
Cenn Stock Forecast: Highlights
Cenn Stock Forecast : Shares of Cenntro Electric Group Ltd (CENN) ) are expected to trade between $1.6 and $2.9. The overall recommendation is Buy. The overall outlook is Positive (Positive: 67%, Negative: 33%)
-Positives: Recent Acquisition of Tropos Motors, it is one of the cheapest EV stocks
-Negatives: The stock is more volatile.



Latest CENN Stock Price

Metric
Value
Trend
Share Volume
5.9 M
Higher
Forward P/E (1 Year)
N/A
N/A

CENN Stock Forecast: Momentum Summary

Indicators
Trend
Price
Higher
Volume
Higher
Performance vs NASDAQ
Lower
Technical Indicators
Buy
Google Search
Higher
Social Media Sentiment
Lower

CENN Stock Forecast: CrowdWisdom360-Insights

  • Cenn announced this month that it acquired a 65% majority stake in Tropos Motors Europe (a EV distributor and assembler), a distribution network for its expansion plans in Europe.
  • In the last 1 month, the stock has almost doubled in price currently trading in the range of mid $2.
  • Among the EV stocks, it is one of the cheapest at about 1/10 th price of competition Nio, Lucid, Rivian which makes it an attractive buy at the present price point.
  • While this might be an attractive cheap-stock option for retail investors it does not have a long list of institutional ones and the volatility of volumes makes the stock a risky investment, especially after sell-offs in Feb.
  • On 25th March, Cenn revealed that they have completed their purchase of Tropos Motors Europe. CEO of Cenn, Peter Wang said that through this acquisition they aim to have greater production capacity, market expansion as well as brand recognition. For some Cenn investors, this news came across as a backlash, as they believe this is a risky decision.
  • Nevertheless, it’s important to note that the Centro stock first jumped on news of the intended acquisition, and the next day’s drop only wiped some part of the gains.
  • According to Investor Place, investing in CENN can be termed risky as they are yet to produce any financial statements/reports of the company. At the same time, the company’s auditor recently resigned which is definitely not a positive sign.
  • CENN will be announcing their 2021 financial results through a conference call hosted by CEO Peter Wang and CFO Edmond Cheng. The conference will be held on 25th April 2022, Monday, 5 PM ET.
  • While announcing the earnings report CENN hosted a conference call. CEO Peter Wang warned investors about problems being faced by them. These challenges include supply chain and manufacturing issues in China amidst the Covid crisis. As a result, the stock dropped.
  • CENN will be holding their Annual General Meeting on 31st May 2022, 8:00 PM, CST). The board has appointed a new Class III Director, Mr. Benjamin Ge who will be serving until 2025.
  • Taking everything into consideration, the stock is a hold for investment till the volatility settles. For trading, it can be a bet given the price.

Read: Best EV stocks to buy in 2022

CENN Stock Forecast : Technical Analysis

 Analyst
Support
Resistance
Recommendation
$1.69 (S3)
$1.76 (R1)
Buy
$1.99 (S3)
$2.91 (R1)
N/A

CENN Stock Forecast: Google Search Analysis

Search Volumes for CENN is higher.

Index
May 9th
7
May 8th
3

CENN Stock: Latest Tweets and News

No latest technical analysis tweets.

Read LUCID Stock Forecast

CENN Stock : Sentiment Analysis

Day
Last 7 days
Last 24 Hours
Trend
Net Social Media Sentiment
+5%
-11%
Lower

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

This site uses Akismet to reduce spam. Learn how your comment data is processed.

1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
trackback

[…] Also read: NAKD Stock Forecast […]

1
0
Would love your thoughts, please comment.x
()
x