Concord Medical Services (NYSE:CCM) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Concord Medical Services Holdings Limited (NYSE:CCM) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.32 and traded as high as $5.06. Concord Medical Services shares last traded at $4.9450, with a volume of 9,348 shares.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CCM shares. Wall Street Zen upgraded shares of Concord Medical Services to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Concord Medical Services in a research report on Friday, August 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Concord Medical Services Price Performance

The firm has a 50-day moving average price of $4.65 and a two-hundred day moving average price of $4.33. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.48 and a quick ratio of 0.46.

About Concord Medical Services

Concord Medical Services Holdings Limited is one of China’s leading providers of radiotherapy equipment and oncology services. The company specializes in supplying and operating advanced radiotherapy machines, including linear accelerators, computed tomography (CT) simulators and brachytherapy units, to public and private hospitals. Through its integrated service model, Concord Medical Services delivers treatment planning, machine maintenance and clinical support to enhance the precision and effectiveness of cancer therapies.

Founded in 1997 and headquartered in Beijing, Concord Medical Services has developed an extensive network of oncology centers across major cities and provinces in China.