The stock of ChinaCache International Holdings Ltd (NASDAQ:CCIH) hit a new 52-week low and has $2.47 target or 10.00% below today’s $2.74 share price. The 5 months bearish chart indicates high risk for the $70.64 million company. The 1-year low was reported on Nov, 14 by Barchart.com. If the $2.47 price target is reached, the company will be worth $7.06 million 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 39,895 shares traded hands. ChinaCache International Holdings Ltd (NASDAQ:CCIH) has declined 69.67% since April 12, 2016 and is downtrending. It has underperformed by 74.66% the S&P500.
According to Zacks Investment Research, “ChinaCache International Holdings Ltd. provides Internet content and application delivery services to businesses, government agencies and other enterprises in China. The Company deploys servers and nodes across networks throughout China and uses a private transmission backbone that connects the nodes and data centers. The services offered by ChinaCache include web page content services, file transfer services, rich media streaming services, guaranteed application services, and managed internet data services, content bridging services and other value-added services. It also provides various integrated solutions to Enterprises, Financial Institutions, and Government Agencies and to the Media, Mobile Internet, and Online Games, E-commerce, Internet and Software Services industry. ChinaCache International Holdings Ltd. is headquartered in Beijing, People’s of Republic of China.”
More recent ChinaCache International Holdings Ltd (NASDAQ:CCIH) news were published by: Globenewswire.com which released: “ChinaCache International Holdings Ltd. Announces Fourth Quarter and Full …” on March 21, 2016. Also Quotes.Wsj.com published the news titled: “DOW JONES, A NEWS CORP COMPANY” on February 11, 2011. Globenewswire.com‘s news article titled: “ChinaCache to Participate in HSBC 8th Annual Asia Investor Forum” with publication date: October 10, 2016 was also an interesting one.
CCIH Company Profile
ChinaCache International Holdings Ltd. (ChinaCache), incorporated on June 29, 2005, is a holding Company. The Firm provides a portfolio of services and solutions to businesses, government agencies and other enterprises to manage the scalability of their online services and applications. The Company’s across the nation service platform, which consists of its network, servers and software, is designed to handle planned and unplanned peaks without upfront and ongoing capital outlay and other investments on the part of its customers. It provides a portfolio of content and application delivery total solutions and solutions tailored to its customers’ needs. It provides various services that are offered on a standalone basis or combined as part of its integrated solutions, such as Web Page Content Services, File Transfer Services, Rich Media Streaming Services, Guaranteed Application Services, Managed Internet Data Services, ChinaCache Cloud Services, Content Bridging Services, Internet Exchange and Data Center Services, Mobile Internet Solutions, Value-added Services, Cloud Infrastructure Development and Customer-tailored Integrated Solutions.
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