Chijet Motor (NASDAQ:DCX) Stock Price Down 3.1% – Here’s Why

Shares of Chijet Motor Company, Inc. (NASDAQ:DCX) dropped 3.1% during trading on Monday . The stock traded as low as $0.97 and last traded at $0.9983. 22,404 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 1,022,023 shares. The stock had previously closed at $1.03.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Chijet Motor in a research note on Monday, July 20th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Chijet Motor presently has a consensus rating of “Sell”.

Chijet Motor Stock Performance

The stock has a 50 day moving average price of $1.13 and a 200 day moving average price of $1.78.

Insider Transactions at Chijet Motor

In other news, CEO Melissa N. Chen bought 41,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was acquired at an average price of $1.25 per share, with a total value of $51,250.00. Following the completion of the purchase, the chief executive officer directly owned 41,000 shares of the company’s stock, valued at approximately $51,250. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 22.04% of the company’s stock.

About Chijet Motor

Chijet Motor Company, Inc engages in the research and development, production, and sale of new energy vehicles. It offers battery electric vehicles, plug-in hybrid electric vehicles, and fuel cell electric vehicles. The company was founded in 2021 and is based in Grand Cayman, the Cayman Islands.