ChinaNet Online Holdings Inc. (CNET): Street Finally Waking Up


Virtu Financial BD LLC recently announced the acquisition of new stake in ChinaNet Online Holdings Inc. (NASDAQ:CNET). This fresh investment now brings its stake to 0.14% valued currently at $40794.0. In addition, HRT Financial LLC raised its holdings by 23745.0 to 23745.0 shares. And JPMorgan Securities LLC (Investme.. has lifted its position by 50.67% or 3135.0 shares – to 9322.0 shares.

With over 3.34 million ChinaNet Online Holdings Inc. (CNET) shares trading Monday and a closing price of $1.43 on the day, the dollar volume was approximately $4.78 million. The shares have shown a positive weekly performance of 19.67% and its price on 08/31/20 gained nearly 22.22%. Currently, there are 21.69M common shares owned by the public and among those 15.92M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for CNET have a consensus price objective of $6.25. The analysts have set the share’s price value over the next 12 months at a high of $6.25 and a low of $6.25 should the stock experience a downside. But an upside of 77.12% will see the stock hit the forecast high price target while mean target price for the stock is $6.25.

Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.

Shares of ChinaNet Online Holdings Inc. (NASDAQ: CNET) opened at $1.18, up $0.01 from a prior closing price of $1.17. However, the script later closed the day at $1.43, up 22.22%. The company’s stock has a 5-day price change of 19.67% and 60.64% over the past three months. CNET shares are trading 22.75% year to date (YTD), with the 12-month market performance up to 6.72% higher. It has a 12-month low price of $0.54 and touched a high of $2.04 over the same period. Currently, 3.34 million shares have been traded, compared to an average intraday trading volume of 687.86K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 10.53%, 17.34%, and 32.38% respectively.

Institutional ownership of ChinaNet Online Holdings Inc. (NASDAQ: CNET) shares accounts for 0.40% of the company’s 21.69M shares outstanding. Mutual fund holders own –, while other institutional holders and individual stakeholders account for — and — respectively.

It has a market capitalization of $31.05M and a beta (3y monthly) value of 1.93. The earnings-per-share (ttm) stands at -$0.15. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.00% over the week and 10.95% over the month.

Analysts forecast that ChinaNet Online Holdings Inc. (CNET) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for Next Year. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. EPS should shrink at an annualized rate of 10.00% over the next five years, compared to 44.30% over the past 5-year period.

Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the CNET, a number of firms have released research notes about the stock. Ladenburg Thalmann stated their Buy rating for the stock in a research note on February 22, 2011, with the firm’s price target at $7.


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