China XD Plastics Company Ltd (NASDAQ:CXDC) shares traded up 8.8% on Friday after an insider bought additional shares in the company. The stock traded as high as $1.85 and last traded at $1.85, 448,038 shares changed hands during trading. An increase of 1,639% from the average session volume of 25,759 shares. The stock had previously closed at $1.70.
Specifically, CFO Dahe Zhang sold 93,660 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $2.05, for a total value of $192,003.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jie Han acquired 554,923 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average price of $2.05 per share, for a total transaction of $1,137,592.15. Following the acquisition, the chief executive officer now directly owns 27,104,266 shares in the company, valued at approximately $55,563,745.30. The disclosure for this purchase can be found here. Insiders sold a total of 263,500 shares of company stock worth $540,175 in the last quarter. Company insiders own 65.10% of the company’s stock.
Separately, ValuEngine upgraded China XD Plastics from a “sell” rating to a “hold” rating in a report on Saturday, December 7th.
The company has a fifty day simple moving average of $1.96 and a two-hundred day simple moving average of $2.08. The company has a current ratio of 1.06, a quick ratio of 0.57 and a debt-to-equity ratio of 0.33. The company has a market cap of $123.84 million, a PE ratio of 1.40 and a beta of 1.41.
China XD Plastics (NASDAQ:CXDC) last issued its quarterly earnings results on Thursday, November 14th. The basic materials company reported $0.25 earnings per share for the quarter. China XD Plastics had a return on equity of 10.10% and a net margin of 5.45%. The company had revenue of $373.16 million for the quarter.
A hedge fund recently bought a new stake in China XD Plastics stock. Citadel Advisors LLC purchased a new position in shares of China XD Plastics Company Ltd (NASDAQ:CXDC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,047 shares of the basic materials company’s stock, valued at approximately $29,000. 2.63% of the stock is currently owned by hedge funds and other institutional investors.
About China XD Plastics (NASDAQ:CXDC)
China XD Plastics Company Limited, together with its subsidiaries, engages in the research, development, manufacture, and sale of modified plastics primarily for automotive applications in the People's Republic of China and Dubai, the United Arab Emirates. Its modified plastics are used to fabricate various auto components, including exteriors consisting of automobile bumpers, rearview and sideview mirrors, and license plate parts; interiors, such as door panels, dashboards, steering wheels, glove compartments, and safety belt components; and functional components comprising air conditioner casings, heating and ventilation casings, engine covers, and air ducts.
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