China XD Plastics Company Limited (NASDAQ:CXDC) stock identified change of 58.64% away from 52-week low price and recently located move of -60.49% off 52-week high price. It has market worth of $68.72M. CXDC stock has been recorded -25.19% away from 50 day moving average and -46.43% away from 200 day moving average. Moving closer, we can see that shares have been trading 4.83% off 20-day moving average.
On April 2, 2020, China XD Plastics Company Limited (NASDAQ:CXDC) one of China’s leading specialty chemical companies engaged in the development, manufacture and sale of polymer composite materials primarily for automotive applications, provided an update on the impact of the coronavirus outbreak on its business and operations.
While the Company’s business operations and financial results for the year ended December 31, 2019 were not affected by this global pandemic, the Company had temporarily closed its manufacturing factories and corporate offices from January 24th to February 9th, 2020, as a result of the Outbreak and widespread public concerns. All company personnel had been required to stay at home until February 9th by the government based on the development of this health epidemic. The preparation of Company’s financial statements and audit process have been delayed due to government-imposed quarantines, office closings and travel restrictions on Company’s personnel and service providers, including auditors. In the short term, the Company expects the outbreak to have a material impact on its operations in the first quarter of 2020. The overall impact of the Coronavirus on the Company’s operations and financial results for 2020 remains to be seen. Presently, the pandemic in China has been well contained. As of the date of this press release, approximately 50% of employees of the Company’s administrative offices return to work. Our factories in Heilongjiang and Sichuan provinces were running at 20% capacity utilization at the end of this March and are expected to reach 70% capacity utilization by the end of this April and normal utilization rate by the end of this May. Our factory in Dubai was not impacted by the coronavirus outbreak during January and February but only 20% employees from private sectors are now allowed to go to work due to the recent rise of coronavirus cases in UAE.
The Consumer Goods sector company, China XD Plastics Company Limited noticed change of -9.13% to $1 along volume of 109998 shares in recent session compared to an average volume of 166.51K. The stock observed return of 8.59% in 5 days trading activity. The stock was at -16.35% over one month performance. CXDC’s shares are at -45.08% for the quarter and driving a -58.69% return over the course of the past year and is now at -44.16% since this point in 2018.
The average volatility for the week at 19.45% and for month was at 14.34%. There are 68.75M shares outstanding and 33.87M shares are floated in market. Right now the stock beta is 1.61.