Smart Powerr (NASDAQ:CREG) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

Smart Powerr Corp. (NASDAQ:CREG) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.97 and traded as low as $0.23. Smart Powerr shares last traded at $0.2352, with a volume of 11,189,660 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently issued reports on CREG. Weiss Ratings reiterated a “sell (e+)” rating on shares of Smart Powerr in a report on Monday, April 20th. Wall Street Zen upgraded shares of Smart Powerr to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Smart Powerr has an average rating of “Sell”.

Smart Powerr Stock Up 23.9%

The company has a market capitalization of $6.69 million, a price-to-earnings ratio of -1.53 and a beta of 2.50. The stock’s fifty day moving average price is $0.46 and its 200-day moving average price is $0.96.

Smart Powerr (NASDAQ:CREG) last posted its quarterly earnings data on Friday, May 15th. The business services provider reported ($0.03) earnings per share (EPS) for the quarter. Smart Powerr had a negative net margin of 732.00% and a negative return on equity of 1.95%. The business had revenue of $0.11 million during the quarter.

Hedge Funds Weigh In On Smart Powerr

Institutional investors have recently added to or reduced their stakes in the company. Ground Swell Capital LLC acquired a new position in Smart Powerr during the third quarter worth $35,000. XTX Topco Ltd acquired a new position in Smart Powerr during the fourth quarter worth $58,000. Finally, DRW Securities LLC increased its holdings in Smart Powerr by 58.2% during the fourth quarter. DRW Securities LLC now owns 87,775 shares of the business services provider’s stock worth $117,000 after buying an additional 32,294 shares during the last quarter. 0.22% of the stock is currently owned by institutional investors and hedge funds.

About Smart Powerr

Smart Powerr Corp. engages in the waste energy recycling business in China. The company provides energy saving and recovery facilities for various energy intensive industries; waste energy recycling systems for use in nonferrous metal plants; and clean-technology and energy-efficient solutions to reduce air pollution and energy shortage problems. It also designs, finances, constructs, and installs the waste energy recycling project to mid to large-size enterprises involved in high energy-consuming businesses; and provides project investment, investment management, economic information consulting, technical, financial leasing, and financial leasing transactions and consulting services; purchases, repairs, and disposes financial leasing assets; sells and leases energy saving systems and equipment.