Pingtan Marine Enterprise (NASDAQ:PME) Stock Price Passes Below 50-Day Moving Average of $1.74

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Shares of Pingtan Marine Enterprise Ltd (NASDAQ:PME) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $1.74 and traded as low as $1.31. Pingtan Marine Enterprise shares last traded at $1.31, with a volume of 300 shares traded.

PME has been the subject of several research analyst reports. TheStreet lowered Pingtan Marine Enterprise from a “c” rating to a “d+” rating in a research note on Wednesday, November 27th. ValuEngine cut Pingtan Marine Enterprise from a “hold” rating to a “sell” rating in a research report on Thursday, October 24th.

The stock has a market cap of $108.12 million, a P/E ratio of 7.20 and a beta of 0.27. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 0.75. The stock has a 50-day moving average price of $1.70 and a 200-day moving average price of $2.16.

In related news, insider Glenning Anthony bought 3,435 shares of the company’s stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $25.46 per share, for a total transaction of $87,455.10. 57.40% of the stock is currently owned by insiders.

About Pingtan Marine Enterprise (NASDAQ:PME)

Pingtan Marine Enterprise Ltd., through its subsidiary, Fujian Provincial Pingtan County Ocean Fishing Group Co, Ltd., engages in the ocean fishing business. The company harvests a range of fish species, such as ribbon and croaker fish, Peru squid, Argentina squid, sailfish, chub mackerel, cuttlefish, and pomfret with its owned and licensed vessels operating within the Indian Exclusive Economic Zone, the Arafura Sea of Indonesia, the international waters of Atlantic and Pacific Oceans, and the international waters of Indian Ocean.

Further Reading: Producer Price Index (PPI)

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