Short Interest in Cenntro Inc. (NASDAQ:CENN) Declines By 10.2%

Cenntro Inc. (NASDAQ:CENN) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 582,800 shares, a drop of 10.2% from the October 15th total of 649,000 shares. Currently, 2.7% of the shares of the company are short sold. Based on an average daily volume of 86,400 shares, the short-interest ratio is presently 6.7 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cenntro stock. Geode Capital Management LLC raised its position in Cenntro Inc. (NASDAQ:CENN) by 8.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 277,490 shares of the company’s stock after buying an additional 20,767 shares during the quarter. Geode Capital Management LLC owned about 0.90% of Cenntro worth $325,000 at the end of the most recent quarter.

Cenntro Price Performance

Cenntro stock traded down $0.05 during midday trading on Friday, hitting $1.32. The company’s stock had a trading volume of 76,286 shares, compared to its average volume of 102,432. Cenntro has a 1-year low of $1.00 and a 1-year high of $2.50. The company has a 50-day moving average price of $1.22 and a two-hundred day moving average price of $1.46.

Cenntro (NASDAQ:CENN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.29) earnings per share for the quarter. The business had revenue of $16.73 million during the quarter. Cenntro had a negative net margin of 109.17% and a negative return on equity of 37.17%.

About Cenntro

Cenntro Inc engages in the design, development, and manufacture of electric light and medium-duty commercial vehicles in Europe, Asia, and the United States. Its purpose-built electric commercial vehicles are designed to serve various fleet and municipal organizations in support of city services, last-mile delivery, and other commercial applications.