China Green Agriculture (NYSE: CGA) stock identified change of 2.59% away from 52-week low price and recently located move of -62.16% off 52-week high price. It has market worth of $262.6M. CGA stock has been recorded -9.14% away from 50 day moving average and -21.86% away from 200 day moving average. Moving closer, we can see that shares have been trading -7.84% off 20-day moving average.
China Green Agriculture (NYSE: CGA) released that its Board of Directors and shareholders approved a reverse stock split of the Company’s Common Stock at a ratio of 1-for-12. The reverse stock split is effective after market close on June 27, 2019 (Effective Time). The Common Stock will begin trading on a split-adjusted basis on the New York Stock Exchange (NYSE) at the market open on June 28, 2019.
At the Effective Time, every twelve issued and outstanding shares of the Company’s Common Stock will be converted into one share of the Company’s Common Stock. Once effective, the reverse stock split will reduce the number of shares of Common Stock issued and outstanding from approximately 47.82 million to approximately 3.98 million.
No fractional shares will be issued in connection with the reverse stock split, with shares rounded to the nearest whole share (except that any resulting shareholding share less than one whole share will be rounded to one whole share.) Holders of the Company’s Common Stock held in book-entry form or through a bank, broker or other nominee do not need to take any action in connection with the reverse stock split.
The reverse stock split is intended to increase the market price per share of the Company’s Common Stock to ensure the Company regains full compliance with the NYSE share price listing rule and maintains its listing on the NYSE and to improve the marketability and liquidity of the Company’s Common Stock. The Company anticipates that effects of the reverse stock split will be sufficient for the Company to regain compliance with the NYSE’s continued listing standards by mid-August, 2019.
The trading symbol for the Company’s Common Stock will remain CGA. The new CUSIP number for the Company’s Common Stock following the reverse stock split will be 16943W204. The Basic Materials sector company, China Green Agriculture noticed change of -7.70% to $5.54 along volume of 88852 shares in recent session compared to an average volume of 10.8K.
The stock observed return of -7.61% in 5 days trading activity. The stock was at -9.46% over one month performance. CGA’s shares are at -5.24% for the quarter and driving a -59.50% return over the course of the past year and is now at -7.52% since this point in 2018. The average volatility for the week at 7.07% and for month was at 4.91%. There are 47.4M shares outstanding and 41.82M shares are floated in market. Right now the stock beta is 1.62.
Category – Business
After many years in the market, Charles Frey dedicated all his time to write articles highlighting different financial problems. He has worked as financial analyst until his retirement. He is a well-known research director and portfolio manager for more than 5 years.
Charles holds a postgraduate degree in Software Engineering. ‘The stock market is filled with individuals who know the price of everything, but the value of nothing.’ Charles is a share market expert, being personally invested for over 6 years. He has been writing his entire life, and while he has made a career of business and finance reporting, he still enjoys writing short stories and poetry.
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