Chijet Motor (NASDAQ:CJET) Shares Down 22.2% – Here’s What Happened

Chijet Motor Company, Inc. (NASDAQ:CJET)’s stock price fell 22.2% on Monday . The company traded as low as $3.60 and last traded at $3.83. 244,317 shares traded hands during trading, a decline of 99% from the average session volume of 32,475,052 shares. The stock had previously closed at $4.92.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Chijet Motor in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Chijet Motor Stock Down 22.2%

The firm has a fifty day moving average price of $30.11 and a 200 day moving average price of $137.54.

Chijet Motor Company Profile

Chijet Motor Company, Inc engages in the research and development, production, and sale of new energy vehicles. It offers battery electric vehicles, plug-in hybrid electric vehicles, and fuel cell electric vehicles. The company was founded in 2021 and is based in Grand Cayman, the Cayman Islands.