Creative Global Technology (NASDAQ:CGTL) Trading Down 36.1% – Here’s What Happened

Creative Global Technology Holdings Limited (NASDAQ:CGTL)’s share price was down 36.1% during mid-day trading on Friday . The stock traded as low as $1.41 and last traded at $1.45. Approximately 6,699,217 shares were traded during trading, a decline of 12% from the average daily volume of 7,650,727 shares. The stock had previously closed at $2.27.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Creative Global Technology from a “hold” rating to a “sell” rating in a research note on Saturday.

Creative Global Technology Trading Down 36.1%

The company’s 50 day moving average is $1.94 and its 200-day moving average is $4.08.

Institutional Investors Weigh In On Creative Global Technology

A hedge fund recently bought a new stake in Creative Global Technology stock. Citadel Advisors LLC purchased a new position in shares of Creative Global Technology Holdings Limited (NASDAQ:CGTL) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 114,332 shares of the company’s stock, valued at approximately $914,000. Citadel Advisors LLC owned 0.53% of Creative Global Technology at the end of the most recent reporting period.

About Creative Global Technology

Mission Consumer electronic devices have a limited life, but some rest idle with meaningful useful life left. We help make every minute of recycled consumer electronic devices’ lives count with our expertise in quickly connecting their demands and supplies, thereby facilitating the circular economy in the consumer electronic devices business and reducing waste.