Streetbeat News

CENN

Cenntro Electric Group Limited

https://www.cenntroauto.com

Industry

Auto - Manufacturers

Cenntro Electric Group Limited designs and manufactures electric light and medium-duty commercial vehicles in Europe, North America, and Asia. It serves corporate and governmental organizations. The company was formerly known as Naked Brand Group Limited and changed its name to Cenntro Electric Group Limited in December 2021. The company was founded in 2013 and is headquartered in Freehold, New Jersey.

Open

1.30

Mkt cap

42M

Volume

220K

High

1.40

P/E Ratio

-0.88

52-wk high

25.99

Low

1.29

Div yield

N/A

52-wk low

1.00

Shares of consumer discretionary sector companies are down due to market weakness and uncertainty about interest rate cuts.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 7:21 pm

In Friday's pre-market session, 12 consumer discretionary stocks showed significant movement. Notably, E-Home Household Service, Color Star Tech, Greenlane Hldgs, Jeffs Brands, Purple Innovation, and Kura Sushi USA were among the gainers, with Kura Sushi USA's recent Q2 earnings release. Conversely, Sunlands Technology, Selina Hospitality, Qurate Retail, Cazoo Gr, ZHONGCHAO, and Cenntro experienced declines.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 12:09 pm

Cenntro Inc. reported a significant increase in its Q4 2023 net revenue, up 376% to $8.6 million. Despite this revenue growth, the company still reported a net loss of $13.0 million, which is an improvement from the $73.3 million loss reported in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 9:10 pm

Cenntro Electric Group Limited (NASDAQ:CENN) is set to redomicile from Australia to the U.S., becoming a subsidiary of Cenntro Inc., a Nevada corporation. The scheme of arrangement will be implemented on February 27, 2024, allowing Cenntro's ordinary shares to be exchanged for HoldCo's common stock on a 1:1 basis without affecting their Nasdaq trading under the ticker 'CENN'. The CUSIP number will change to HoldCo's on the implementation date. Eligible shareholders as of February 22, 2024, will receive HoldCo shares, with shareholdings statements starting February 29, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 5:03 pm

Cenntro Electric Group Limited (NASDAQ:CENN) has announced the adjournment of its second court hearing for the scheme of arrangement to re-domicile from Australia to the U.S. The hearing is now scheduled for February 16, 2024. This adjournment allows Cenntro to prepare further evidence regarding shareholder voting on the scheme. The scheme, subject to court approval, aims for Cenntro to become a subsidiary of Cenntro Inc., incorporated in Nevada. The updated timetable indicates the scheme's implementation by February 27, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 9:55 pm

In Thursday's after-market session, several consumer discretionary stocks showed notable movements. Gainers included BurgerFi International, SRIVARU Holding, Kirkland's, Connexa Sports Techs, Boyd Gaming, and AMMO, with increases attributed to various factors including Q4 and Q3 earnings reports for Boyd Gaming and AMMO respectively. Losers were led by Expedia Group, Secoo Holding, E-Home Household Service, Leggett & Platt, Selina Hospitality, and Cenntro Electric Gr, with declines also linked to Q4 earnings reports for Expedia Group and Leggett & Platt.

Portfolio Pulse from Benzinga Insights

February 08, 2024 | 9:31 pm

Cenntro Electric Group Limited (NASDAQ:CENN) shareholders have approved a scheme to redomicile the company from Australia to the United States, becoming a wholly owned subsidiary of a new U.S. entity, Cenntro Inc., incorporated in Nevada. The scheme, subject to court approval and other conditions, is expected to be implemented on February 27, 2024. This move is aimed at advancing Cenntro's position in the electric vehicle market.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:37 pm

In Wednesday's pre-market session, several consumer discretionary stocks experienced significant movements. Purple Innovation (PRPL) saw a 16.4% increase, Allurion Technologies (ALUR) rose by 12.98%, and Dogness (DOGZ) went up by 10.5%. TAL Education (TAL) increased by 10.28%, Interactive Strength (TRNR) by 9.02%, and Chijet Motor Co (CJET) by 8.47%. On the downside, Phoenix Motor (PEV) dropped by 7.8%, SRIVARU Holding (SVMH) by 6.59%, U Power (UCAR) by 4.6%, Tilly's (TLYS) by 3.45%, Solid Power (SLDP) by 3.36%, and Cenntro Electric Gr (CENN) by 3.21%.

Portfolio Pulse from Benzinga Insights

January 24, 2024 | 1:06 pm

In Thursday's after-market session, several consumer discretionary stocks experienced movement. SRIVARU Holding (SVMH) led the gainers with a 6.0% increase, while Inspired Entertainment (INSE) saw the largest decline among the losers, dropping 7.5%. Other notable movers included E-Home Household Service (EJH), Vision Marine (VMAR), Stitch Fix (SFIX), Luminar Technologies (LAZR), and Vroom (VRM). On the losing side, Chijet Motor Co (CJET), MGO Global (MGOL), Brilliant Earth Group (BRLT), and Cenntro Electric Gr (CENN) also saw their stock prices fall.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 9:31 pm

Cenntro Electric Group Limited (NASDAQ:CENN) is urging shareholders to vote in favor of a proposed Scheme to redomicile the company from Australia to the United States. A special meeting is scheduled for January 24, 2024. The Scheme involves Cenntro becoming a wholly owned subsidiary of a new U.S. company incorporated in Nevada. The Scheme Booklet, including an independent expert's report favoring the Scheme, has been distributed to shareholders. The board of directors unanimously recommends voting in favor of the Scheme, and a second court hearing is set for February 1, 2024, in Australia.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 1:37 pm

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