China New Energy Limited (CNEL.L) (LON:CNEL) Shares Pass Below 200 Day Moving Average – Here’s Why

China New Energy Limited (CNEL.L) (LON:CNEL) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 7.50 ($0.10) and traded as low as GBX 3.40 ($0.04). China New Energy Limited (CNEL.L) shares last traded at GBX 7.50 ($0.10), with a volume of 1,309,714 shares traded.

China New Energy Limited (CNEL.L) Stock Down 2.6 %

The firm’s 50-day simple moving average is GBX 7.50 and its 200 day simple moving average is GBX 7.50. The company has a debt-to-equity ratio of 26.64, a quick ratio of 0.89 and a current ratio of 1.33. The company has a market cap of £33.33 million and a P/E ratio of -0.08.

China New Energy Limited (CNEL.L) Company Profile

China New Energy Limited, an investment holding company, engages in the provision of bioenergy technology solutions in the People's Republic of China, Thailand, Taiwan, Indonesia, Romania, Russia, Canada, Myanmar, and Cambodia. The company offers equipment, procurement, and construction services, as well as value added services.