XCHG (NASDAQ:XCH) Trading Down 10.5% – Here’s Why

XCHG Limited (NASDAQ:XCH)’s share price fell 10.5% on Wednesday . The company traded as low as $0.6801 and last traded at $0.7071. 48,361 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 1,233,019 shares. The stock had previously closed at $0.79.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of XCHG in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce”.

XCHG Price Performance

The stock has a market capitalization of $41.41 million, a price-to-earnings ratio of -7.14 and a beta of -1.23. The business’s 50-day simple moving average is $0.77 and its two-hundred day simple moving average is $1.01.

XCHG (NASDAQ:XCH) last released its quarterly earnings data on Monday, April 27th. The company reported ($0.18) earnings per share (EPS) for the quarter. The firm had revenue of $6.32 million for the quarter. As a group, sell-side analysts expect that XCHG Limited will post -0.15 EPS for the current year.

About XCHG

XCHG Limited, branded as XCharge, is a company whose subsidiaries design, manufacture, and sell electric vehicle (EV) charging solutions under the X-Charge name in Europe, China, the United States, and other international markets. The company focuses on DC fast-charging infrastructure, including its C6 and C7 series chargers and Net Zero battery-integrated fast-charging systems, and also provides related software upgrades and hardware maintenance services for EV manufacturers, energy companies, and charge point operators.