Charge Enterprises Inc. (NASDAQ:CRGE) saw a downside of -0.09% to close Friday at $0.63 after subtracting -$0.01 on the day. The 5-day average trading volume is 660,920 shares of the company’s common stock. It has gained $0.9000 in the past week and touched a new high 1 time within the past 5 days. An average of 380,095 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 355,988.
CRGE’s 1-month performance is -34.56% or -$0.3354 on its low of $0.6000 reached on 08/16/23. The company’s shares have touched a 52-week low of $0.60 and high of $3.16, with the stock’s rally to the 52-week high happening on 01/11/23. YTD, CRGE has lost -48.81% or -$0.6052 and has reached a new high 3 times. However, the current price is down -79.91% from the 52-week high price.
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Insider Transactions
CRGE stock investors last saw insider trading activity on Jun 02.Harper-Denson Craig (COO / CCO) most recently sold 100 shares at $2.50 per share on Nov 23. This transaction cost the insider $250. COO & CCO, Harper-Denson Craig, sold 700 shares at a price of $2.61 on Nov 16. Then, on Nov 15, COO & CCO Harper-Denson Craig sold 7,500 shares at a price of $2.76 per share. This transaction amounted to $20,700.
Valuation Metrics
CRGE stock has a beta of 3.10. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.19 while the price-to-book (PB) in the most recent quarter is 4.23.
Charge Enterprises Inc.’s quick ratio for the period ended June 29 was 1.00, with the current ratio over the same period at 1.00. In terms of profitability, the gross margin trailing 12 months is 3.90%. The trailing 12-month EBITDA margin is -5.96% while for the period ending June 29, Charge Enterprises Inc.’s operating margin was -6.70%. The firm’s gross profit as reported stood at $28.21 million against revenue of $697.83 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -113.25% to -$9.21 million, while revenue of -$9.57 million was -3.91% off the previous quarter. Analysts expected CRGE to announce -$0.05 per share in earnings in its latest quarter, but it posted -$0.04, representing a 20.00% surprise. EBITDA for the quarter stood at more than -$6.3 million. CRGE stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 168.13 million, with total debt at $29.82 million. Shareholders hold equity totaling $214.99 million.
Let’s look briefly at Charge Enterprises Inc. (CRGE) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 18 August was 17.86% to suggest the stock is trending oversold, with historical volatility in this time period at 118.72%.
The stock’s 5-day moving average is $0.6999, reflecting a -30.62% or -$0.2802 change from its current price. CRGE is currently trading -37.15% above its 20-day SMA, -43.82% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -36.52% and SMA200 by-71.41%.
Stochastic %K and %D was 9.17% and 8.21% and the average true range (ATR) pointed at 0.0750. The RSI (14) points at 24.12%, while the 14-day stochastic is at 9.40% with the period’s ATR at 0.0728. The stock’s 9-day MACD Oscillator is pointing at -0.1569 and -0.1979 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Charge Enterprises Inc. (NASDAQ: CRGE), H.C. Wainwright launched coverage with a Buy rating. Analysts offering their rating for CRGE stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate CRGE as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 2 have offered a “buy” rating.
