Notable News to Focus: Huitao Technology Co., Ltd. (NASDAQ:HHT)

Huitao Technology Co., Ltd. (NASDAQ:HHT) stock observed trading -77.22% off 52-week high price. On the other end, the stock has been noted 85.34% away from low price over the last 52-weeks. The stock disclosed a move of 5.22% away from 50 day moving average and -53.42% away from 200 day moving average. Moving closer, we can see that shares have been trading 25.93% off 20-day moving average. It has market cap of $7.68M.

On March 13, 2020, Huitao Technology Co., Ltd. (NASDAQ CM:HHT) a company engaged in production of advanced ready-mix concrete materials and education service, revealed that it has completed a private placement offering with Hou Sing International Business Limited, the largest shareholder of the Company, bringing gross proceeds of $2 million from the sale of an aggregate of 2,000,000 ordinary shares at a per share price of $1.00.

Mr. Yang (Sean) Liu, the Chief Executive Officer of HHT commented: We are pleased to announce that the Company successfully raised $2 million in capital from our current shareholder Hou Sing, who shares our vision for the long-term success of HHT. The funding provides us the necessary source of capital to execute our plan to jumpstart our education services business and to fuel our growth. We appreciate our shareholder’s confidence in our business by willing to purchase the shares above market price. With the recent acquisition of Sunway Kids and the joint venture with Baydolphin, we believe HHT is well positioned in its evolution as a technology-oriented education service provider.

The China based company Huitao Technology Co., Ltd. moved with change of 5.39% to $1.08 with the total traded volume of 73342 shares in recent session versus to an average volume of 130.05K shares. The stock was observed in the 5 days activity at 32.34%. The one month performance of stock was 43.99%. HHT’s shares are at -53.86% for the quarter and driving a -62.15% return over the course of the past year and is now at -25.78% since this point in 2018.  Right now the stock beta is 2.19. The average volatility for the week and month was at 24.42% and 18.36% respectively. There are 7.14M shares outstanding and 3.98M shares are floated in market.

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