The stock of China Ceramics Co Ltd (NASDAQ:CCCL) hit a new 52-week low and has $1.94 target or 14.00% below today’s $2.26 share price. The 8 months bearish chart indicates high risk for the $6.23M company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $1.94 price target is reached, the company will be worth $872,200 less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 11,183 shares traded hands. China Ceramics Co Ltd (NASDAQ:CCCL) has declined 27.63% since April 1, 2016 and is downtrending. It has underperformed by 28.85% the S&P500.
According to Zacks Investment Research, “China Ceramics Co., Ltd., formerly China Holdings Acquisition Corp., is a manufacturer of ceramic tiles used for exterior siding and for interior flooring and design in residential and commercial buildings. China Ceramics produces different types of ceramics tiles, sold under the HD or Hengda brand. The Company’s products are available in over two thousand styles, colors and sizes combinations and are distributed through a network of exclusive distributors or directly to large property developers.”
More recent China Ceramics Co Ltd (NASDAQ:CCCL) news were published by: Streetinsider.com which released: “China Ceramics Co., Ltd. (CCCL) to Conduct One-for-Eight Reverse Stock Split” on June 27, 2016. Also Prnewswire.com published the news titled: “China Ceramics Announces Settlement of Class Action Litigation” on June 29, 2016. Benzinga.com‘s news article titled: “10 Biggest Mid-Day Gainers For Monday” with publication date: July 25, 2016 was also an interesting one.
CCCL Company Profile
China Ceramics Co., Ltd., incorporated on September 20, 2009, is a maker of ceramic tiles used for exterior siding and for interior flooring, and design in residential and commercial buildings. The Company’s ceramic tiles, sold under the HD or Hengda, HDL or Hengdeli, Pottery Capital of Tang Dynasty, TOERTO and WULIQIAO brands, are available in over 2,000 styles, colors and size combinations. The Firm operates in the segment of manufacturing and sale of medium to high-end ceramic tiles. The Company’s geographical segment is People’s Republic of China (PRC). The Firm has five principal product categories: porcelain tiles, glazed tiles, glazed porcelain tiles, rustic tiles and polished glazed tiles. The Company’s ceramic tiles are used for flooring, interior walls for decorative purposes and on exterior siding. The Company’s manufacturing facilities operated by Jinjiang Hengda Ceramics Co., Ltd. are located in Jinjiang, Fujian Province, and its manufacturing facilities operated by Jiangxi Hengdali Ceramic Materials Co., Ltd. are located in Gaoan, Jiangxi Province. Combined, these facilities provide an aggregate annual production capacity of approximately 70 million square meters.
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