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

Graphjet Technology (NASDAQ:GTI)’s stock price fell 37% on Tuesday . The stock 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.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Graphjet Technology in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Graphjet Technology has a consensus rating of “Sell”.

Graphjet Technology Price Performance

The firm has a market cap of $7.86 million, a price-to-earnings ratio of -1.14 and a beta of 0.50. The business’s 50 day simple moving average is $2.62.

About Graphjet Technology

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.