XCHG (NASDAQ:XCH) Stock Price Down 7.5% – Here’s Why

XCHG Limited (NASDAQ:XCH)’s stock price dropped 7.5% during trading on Tuesday . The company traded as low as $0.6114 and last traded at $0.6401. Approximately 7,384 shares changed hands during trading, a decline of 91% from the average daily volume of 84,191 shares. The stock had previously closed at $0.6919.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of XCHG in a report on Friday, April 10th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, XCHG currently has an average rating of “Reduce”.

XCHG Price Performance

The firm has a market cap of $44.26 million, a price-to-earnings ratio of -7.63 and a beta of -1.05. The firm’s fifty day moving average is $0.88 and its 200-day moving average is $1.05.

XCHG (NASDAQ:XCH) last released its earnings results on Monday, April 27th. The company reported ($0.18) earnings per share (EPS) for the quarter. The company had revenue of $6.32 million for the quarter. As a group, equities research analysts anticipate that XCHG Limited will post -0.15 EPS for the current year.

XCHG Company Profile

XCHG Limited, branded as XCharge, is a company whose subsidiaries design, manufacture, and sell electric vehicle (EV) charging solutions under the X-Charge name in Europe, China, the United States, and other international markets. The company focuses on DC fast-charging infrastructure, including its C6 and C7 series chargers and Net Zero battery-integrated fast-charging systems, and also provides related software upgrades and hardware maintenance services for EV manufacturers, energy companies, and charge point operators.