China Recycling Energy Corporation (NASDAQ:CREG) is among the top gainers of the stock market today, skyrocketing 6.69% or (0.02 points) to $0.35 from its previous close of $0.33. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 289335 contracts so far this session. CREG shares had a relatively better volume day versus average trading capacity of 170.54 thousand shares, but with a 10.98 million float and a 0.87% run over a week, it’s definitely worth keeping an eye on. CREG share price has been trading recently between $0.3158 and $0.34. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $35. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $35.
During the recent trading session for China Recycling Energy Corporation (NASDAQ:CREG), the company witnessed their stock rise $0.02 over a week and tumble down $-0.06 from the price 20 days ago. When compared to their established 52-week high of $2.6, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/18/18. The recent low of $0.28 stood for a -86.63% since 09/08/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.26 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for CREG is set at $35, a figure which is above the recent 1-year high the stock witnessed.
Looking at the current readings for China Recycling Energy Corporation, the two-week RSI stands at 46.06. This figure suggests that CREG stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current CREG readings is similarly very revealing as it has a stochastic reading of 24.56% at this stage. This figure means that CREG share price today is being overbought.
Technical chart claims that China Recycling Energy Corporation (CREG) would settle between $0.34/share to $0.35/share level. However, if the stock price goes below the $0.31 mark, then the market for China Recycling Energy Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $0.3 for its downside target.
Moving on, CREG stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 43. China Recycling Energy Corporation current P/B ratio of 0.1 means it is trading at a discount against its industry’s 4.4.