New Energy Systems Group Stock Gaps Down On Today's Open (NEWN)
NEW YORK (TheStreet) -- Shares of New Energy Systems Group (AMEX:NEWN) were gapping down Monday morning with an open price 10% lower than Friday's closing price. The stock closed at $2.60 Friday and opened today's trading at $2.34. The average volume for New Energy Systems Group has been 450,900 shares per day over the past 30 days. New Energy Systems Group has a market cap of $36.9 million and is part of the technology sector and electronics industry. Shares are down 66.4% year to date as of the close of trading on Friday. New Energy Systems Group, through its subsidiaries, manufactures and distributes lithium battery shells and related products primarily in China. It develops, customizes, and produces steel and aluminum battery shells and caps. The company principally serves large lithium battery manufacturers. The company has a P/E ratio of 2.2, above the average electronics industry P/E ratio of two and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates New Energy Systems Group as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and a generally disappointing performance in the stock itself. You can view the full New Energy Systems Group Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping down? Get free SMS text alerts sent to you when the action happens by texting DOWN to 95370 or select from multiple alert options.
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