As of Wednesday close, Charge Enterprises Inc.’s (NASDAQ:CRGE) stock was down -$0.14, moving down -19.01 percent to $0.64. The average number of shares traded per day over the past five days has been 600,140 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.2645 fall in that time frame. In the last twenty days, the average volume was 361,255, while in the previous 50 days, it was 354,592.
Since last month, CRGE stock retreated -34.49%. Shares of the company fell to $0.6000 on 08/16/23, the lowest level in the past month. A 52-week high of $3.35 was reached on 01/11/23 after having rallying from a 52-week low of $0.76. Since the beginning of this year, CRGE’s stock price has dropped by -48.74% or -$0.6044, and marked a new high 3 times. However, the stock has declined by -81.03% since its 52-week high.
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CRGE stock investors should be aware that Charge Enterprises Inc. (CRGE) stock had its last reported insider trading activity 76 days ago on Jun 02. JACOBS GARY N, the Director of the company, purchased of 2,000 shares for $0.98 on Jun 02. It resulted in a $1,960 investment by the insider. JACOBS GARY N added 1,000 shares at an average price of $1.01 on May 26. The insider now owns 20,000 shares following the transaction. On May 25, Director JACOBS GARY N bought 1,000 shares at $1.05 apiece. The transaction was valued at $1,050.
Valuation Metrics
The stock’s beta is 3.05. Besides these, the trailing price-to-sales (P/S) ratio of 0.18, the price-to-book (PB) ratio of 4.24.
Financial Health
In the three months ended June 29, Charge Enterprises Inc.’s quick ratio stood at 1.00, while its current ratio was 1.00, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 3.90% percent. Based on annual data, CRGE earned $28.21 million in gross profit and brought in $697.83 million in revenue.
According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. CRGE’s revenue fell -22.66% to $193.55 million during the quarter, while net income inched up to $147.59 million. While analysts expected Charge Enterprises Inc. to report -$0.06 quarterly earnings, the actual figure was -$0.04 per share, beating the consensus estimate by 33.30%. During the quarter, the company generated -$6.3 million in EBITDA. The liabilities of Charge Enterprises Inc. were 168.13 million at the end of its most recent quarter ended June 29. The value of shareholders’ equity is $214.99 million.
Technical Picture
This quick technical analysis looks at Charge Enterprises Inc.’s (CRGE) price momentum. With a historical volatility rate of 116.93%, the RSI 9-day stood at 17.90% on 16 August.
With respect to its five-day moving average, the current Charge Enterprises Inc. price is down by -29.39% percent or -$0.2645. At present, CRGE shares trade -34.38% below its 20-day simple moving average and -41.69% percent below its 100-day simple moving average. However, the stock is currently trading approximately -38.88% below its SMA50 and -68.53% below its SMA200.
Stochastic coefficient K was 6.53% and Stochastic coefficient D was 15.40%, while ATR was 0.0810. Given the Stochastic reading of 8.90% for the 14-day period, the RSI (14) reading has been calculated as 24.16%. As of today, the MACD Oscillator reading stands at -0.1079, while the 14-day reading stands at -0.1369.
Analyst Ratings
H.C. Wainwright launched its rating on Charge Enterprises Inc. (NASDAQ: CRGE) to a Buy in a note to investors on October 14, 2022. Charge Enterprises Inc. (CRGE) has been rated Buy by analysts. According to 0 brokerage firms, CRGE is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Charge Enterprises Inc. stock as buy, with 2 recommending it as overweight.
With a median target price of $3.75, the current consensus forecast for the stock is $3.00 – $4.50. Based on these forecasts, analysts predict Charge Enterprises Inc. (CRGE) will achieve an average price target of $3.75.
