Stock News Alert: China Ceramics Co., Ltd. (NASDAQ:CCCL)

China Ceramics Co., Ltd. (NASDAQ:CCCL) stock observed trading 3.39% off 52-week high price. On the other end, the stock has been noted 603.85% away from low price over the last 52-weeks. The stock disclosed a move of 142.60% away from 50 day moving average and 169.80% away from 200 day moving average. Moving closer, we can see that shares have been trading 142.31% off 20-day moving average. It has market cap of $16.40M.

On Sept. 2, 2020, China Ceramics Co., Ltd. (NASDAQ Capital Market:CCCL) a leading Chinese manufacturer of ceramic tiles used for exterior siding and for interior flooring and design in residential and commercial buildings, declared  that its Board of Directors has set the date of September 3, 2020 to be the effective date for the Company’s reverse stock split.  The Company’s ordinary shares will begin trading on the NASDAQ Stock Market on a split-adjusted basis when the market opens on September 3, 2020. The new CUSIP number for the Company’s common stock following the reverse split is G2113X159.

The Company’s Board of Directors approved a reverse stock split so as to regain compliance with the minimum bid price requirement of $1.00 per share for continued listing on the NASDAQ Stock Market. In order to maintain the Company’s listing on the NASDAQ Capital Market, the Company’s common stock must have a closing bid price of $1.00 or more for a minimum of ten consecutive trading days by September 21, 2020. There can be no assurance that following the reverse split, the Company’s common stock will remain above $1.00 per share minimum for the requisite period as of September 21, 2020 to regain listing compliance. In the event the Company does not regain compliance with the minimum bid price requirement, its securities may be subject to delisting from the NASDAQ Stock Market which, in turn, will result in significant adverse effect on the value and liquidity of the Company’s securities.

The China based company China Ceramics Co., Ltd. moved with change of -2.57% to $1.83 with the total traded volume of 160848 shares in recent session versus to an average volume of 161.01K. The stock was observed in the 5 days activity at -4.98%. The one month performance of stock was -25.61%. CCCL’s shares are at -16.43% for the quarter and driving a -19.74% return over the course of the past year and is now at -10.26% since this point in 2018.  Right now the stock beta is 1.42. The average volatility for the week and month was at 7.44% and 14.40% respectively. There are 6.16M shares outstanding and 5.44M shares are floated in market.

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