Chijet Motor (NASDAQ:DCX) Trading Down 3.1% – Here’s Why

Chijet Motor Company, Inc. (NASDAQ:DCX) shares dropped 3.1% on Monday . The company traded as low as $0.97 and last traded at $0.9983. Approximately 22,404 shares changed hands during trading, a decline of 98% from the average session volume of 1,022,023 shares. The stock had previously closed at $1.03.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Chijet Motor in a research report on Monday, July 20th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Chijet Motor presently has a consensus rating of “Sell”.

Chijet Motor Price Performance

The business’s 50-day moving average price is $1.13 and its two-hundred day moving average price is $1.78.

Insiders Place Their Bets

In related news, CEO Melissa N. Chen bought 41,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was purchased at an average cost of $1.25 per share, for a total transaction of $51,250.00. Following the transaction, the chief executive officer owned 41,000 shares in the company, valued at $51,250. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.04% of the stock is owned by corporate insiders.

Chijet Motor Company Profile

Chijet Motor Company, Inc engages in the research and development, production, and sale of new energy vehicles. It offers battery electric vehicles, plug-in hybrid electric vehicles, and fuel cell electric vehicles. The company was founded in 2021 and is based in Grand Cayman, the Cayman Islands.