Concord Medical Services (NYSE:CCM) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Concord Medical Services Holdings Limited (NYSE:CCM) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.28 and traded as high as $5.07. Concord Medical Services shares last traded at $4.72, with a volume of 517,483 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently issued reports on CCM. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Concord Medical Services in a report on Tuesday, May 26th. Wall Street Zen upgraded shares of Concord Medical Services to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Concord Medical Services presently has a consensus rating of “Sell”.

Concord Medical Services Stock Up 2.4%

The company has a debt-to-equity ratio of 1.33, a current ratio of 0.48 and a quick ratio of 0.46. The business has a fifty day simple moving average of $4.62 and a 200-day simple moving average of $4.28.

Concord Medical Services Company Profile

Concord Medical Services Holdings Limited is one of China’s leading providers of radiotherapy equipment and oncology services. The company specializes in supplying and operating advanced radiotherapy machines, including linear accelerators, computed tomography (CT) simulators and brachytherapy units, to public and private hospitals. Through its integrated service model, Concord Medical Services delivers treatment planning, machine maintenance and clinical support to enhance the precision and effectiveness of cancer therapies.

Founded in 1997 and headquartered in Beijing, Concord Medical Services has developed an extensive network of oncology centers across major cities and provinces in China.