The stock of Hongli Clean Energy Technologies Corp (NASDAQ:CETC) hit a new 52-week high and has $14.08 target or 156.00% above today’s $5.50 share price. The 9 months bullish chart indicates low risk for the $13.96 million company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $14.08 price target is reached, the company will be worth $21.78 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 341,304 shares traded hands or 1358.56% up from the average. Hongli Clean Energy Technologies Corp (NASDAQ:CETC) has declined 33.86% since April 15, 2016 and is downtrending. It has underperformed by 38.48% the S&P500.
According to Zacks Investment Research, “Hongli Clean Energy Technologies Corp. is engaged in coal and coke processor of coal products for steel manufacturers, power generators and various industrial users. The Company’s products include raw coal, washed coal, medium or mid-coal, coal slurries, coke, coal tar and crude benzol. It also generates synthetic gas, which is converted from coke using the coke gasification facility. The Company operates primarily in China and the United States. Hongli Clean Energy Technologies Corp., formerly known as SinoCoking Coal and Coke Chemical Industries, Inc., is based in Pingdingshan, China.”
More notable recent Hongli Clean Energy Technologies Corp (NASDAQ:CETC) news were published by: Reuters.com which released: “BRIEF-Hongli Clean Energy Technologies Corp announces 1 for 10 reverse sto…” on October 26, 2016, also Prnewswire.com with their article: “Hongli Clean Energy Technologies Corp Announces Reverse Stock Split” published on October 26, 2016, Prnewswire.com published: “Hongli Clean Energy Technologies Corp. Announces Receipt of Delinquency Letter …” on October 18, 2016. More interesting news about Hongli Clean Energy Technologies Corp (NASDAQ:CETC) were released by: Globenewswire.com and their article: “Hongli Clean Energy Technologies Corp. Plans to Lease Syngas Production …” published on August 12, 2015 as well as Globenewswire.com‘s news article titled: “Hongli Clean Energy Technologies Corp. Reports Fiscal Year 2016 Q2 Financial …” with publication date: February 16, 2016.
CETC Company Profile
Hongli Clean Energy Technologies Corp., formerly SinoCoking Coal and Coke Chemical Industries, Inc., incorporated on September 30, 1996, is a producer of clean energy products. The Company’s products include washed coal, medium or mid-coal and coal slurries, coke, coke powder, coal tar and crude benzol, synthetic gas (syngas) and electricity. The Firm controls four coal mines.
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