Clean Energy Technologies (NASDAQ:CETY) Shares Break Below Two Hundred Day Moving Average – Here’s Why

Clean Energy Technologies, Inc. (NASDAQ:CETY)’s share price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $0.87 and traded as low as $0.8550. Clean Energy Technologies shares last traded at $0.8550, with a volume of 6,002 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Clean Energy Technologies in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Clean Energy Technologies Trading Down 4.5%

The company has a market cap of $10.41 million, a PE ratio of -0.71 and a beta of -1.45. The company has a fifty day simple moving average of $0.98 and a two-hundred day simple moving average of $0.87.

Clean Energy Technologies (NASDAQ:CETY) last posted its earnings results on Wednesday, August 19th. The company reported ($0.09) EPS for the quarter. The company had revenue of $0.37 million during the quarter. Clean Energy Technologies had a negative net margin of 262.61% and a negative return on equity of 80.91%.

Clean Energy Technologies Company Profile

Clean Energy Technologies, Inc develops and commercializes clean-energy technologies designed to improve energy efficiency and support distributed power generation. The company focuses on systems that can convert otherwise wasted energy, including waste heat, into useful electricity.

Through its Heat2Power technology, Clean Energy Technologies offers heat-recovery systems that use a linear generator to produce electricity from industrial and commercial waste heat. Its solutions are intended for applications such as combined heat and power, industrial facilities, commercial buildings, and other sites seeking to reduce energy waste and reliance on conventional power sources.

The company also provides related engineering, project-development, and system-integration services for clean-energy and energy-efficiency projects.