Graphjet Technology (NASDAQ:GTI) Stock Price Down 37% – Time to Sell?

Graphjet Technology (NASDAQ:GTI) traded down 37% during mid-day trading on Tuesday . The company traded as low as $2.42 and last traded at $2.45. 977,289 shares traded hands during trading, an increase of 900% from the average session volume of 97,686 shares. The stock had previously closed at $3.89.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Graphjet Technology in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Graphjet Technology Stock Performance

The stock has a market capitalization of $7.86 million, a P/E ratio of -1.14 and a beta of 0.50. The firm has a fifty day simple moving average of $2.62.

Graphjet Technology Company Profile

Graphjet Technology is a developer of patented technologies to produce graphite and graphene directly from agricultural waste. Graphjet Technology, formerly known as Energem Corp., is based in KUALA LUMPUR, Malaysia.