China New Energy (CNEL) Trading 14.1% Higher on Insider Buying Activity
China New Energy Limited (LON:CNEL) traded up 14.1% during trading on Friday following insider buying activity. The stock traded as high as GBX 1.17 ($0.02) and last traded at GBX 1.17 ($0.02). 897,863 shares traded hands during mid-day trading, an increase of 120% from the average session volume of 407,232 shares. The stock had previously closed at GBX 1.03 ($0.01).
Specifically, insider Yu Weijun acquired 8,079,728 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of GBX 1 ($0.01) per share, for a total transaction of £80,797.28 ($105,575.96).
The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 19.78. The company has a market cap of $5.00 million and a PE ratio of 1.25.
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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.
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