On May 26, 2023, Smart Powerr Corp. (NASDAQ: CREG) received a written notice from The Nasdaq Stock Market LLC’s Listing Qualifications Department. The notification stated that the company failed to comply with the Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic financial reports with the U.S. Securities and Exchange Commission (SEC). Specifically, the company was unable to file its quarterly report on Form 10-Q for the year ended March 31, 2023, by its original deadline without unreasonable effort or expense.
Despite the notification, the company’s shares of common stock on the Nasdaq Capital Market remain unaffected. However, CREG is required to submit a Compliance Plan to regain compliance by July 24, 2023. If Nasdaq accepts the plan, the company can be granted up to 180 calendar days from the Initial Delinquency Filing’s due date or until November 20, 2023, to comply.
China Recycling Energy Corporation (CREG) – A Small-Cap Company with Strong Earnings Growth in the Utilities Sector
On May 26, 2023, China Recycling Energy Corporation (CREG) opened at 2.01, fluctuated between 2.00 and 2.03, with a volume of 2,189 shares traded. CREG’s market cap is $12.2 million, indicating that it is a small-cap company. The company’s earnings growth for the previous year was 72.13%. Similarly, there is no information on the company’s revenue growth for the previous year. The P/E ratio and price/sales ratios are not available. CREG operates in the utilities sector, specifically in the electric utilities industry. However, there are no executives listed for the company, and its corporate headquarters are located in Xi’an, Shaanxi.
Smart Power Corps Stock (CREG) Sees 17,400% Median Price Increase Forecast Amid Optimism for Renewable Energy and EV Demand
On May 26, 2023, Smart Power Corp‘s stock, with the ticker symbol CREG, experienced a significant increase in its median price forecast. According to CNN Money, the one analyst who offered a 12-month price forecast for the company set a median target of $350.00, with a high estimate of $350.00 and a low estimate of $350.00. This represents a staggering increase of 17,400% from the last price of $2.00. The consensus among the single polled investment analyst is to outperform the stock, suggesting that the analyst community is optimistic about the company’s future prospects. Smart Power Corp is a company that focuses on the development, manufacture, and sale of advanced energy storage systems for electric vehicles, renewable energy, and microgrids. The company’s focus on the renewable energy sector and the growing demand for electric vehicles could be contributing to the bullish sentiment surrounding the stock.
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