Cenntro (NASDAQ:CENN) Trading Down 3.8% – Here’s Why

Shares of Cenntro Inc. (NASDAQ:CENN) traded down 3.8% during mid-day trading on Tuesday . The stock traded as low as $0.83 and last traded at $0.84. 142,766 shares changed hands during mid-day trading, a decline of 1% from the average session volume of 144,356 shares. The stock had previously closed at $0.87.

Cenntro Stock Down 8.4 %

The business has a 50 day moving average price of $0.94 and a 200 day moving average price of $1.11.

Institutional Investors Weigh In On Cenntro

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in shares of Cenntro by 8.1% during the 3rd quarter. Geode Capital Management LLC now owns 277,490 shares of the company’s stock valued at $325,000 after purchasing an additional 20,767 shares in the last quarter. Jane Street Group LLC purchased a new position in Cenntro in the fourth quarter valued at $30,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Cenntro in the fourth quarter worth about $59,000.

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.