Watch List Stock News: China Xiangtai Food Co. Ltd. (NASDAQ:PLIN)

China Xiangtai Food Co. Ltd. (NASDAQ:PLIN) stock identified change of 5.98% away from 52-week low price and recently located move of -38.00% off 52-week high price. It has market worth of $92.03M . PLIN stock has been recorded -9.98% away from 50 day moving average and -14.67% away from 200 day moving average. Moving closer, we can see that shares have been trading -7.21% off 20-day moving average.

On Jan. 7, 2020, China Xiangtai Food Co. Ltd. (NASDAQ:PLIN) an emerging growth company primarily engaged in pork processing in China, revealed a letter to shareholders from the chairman of the Company’s board of directors.

Dear Shareholders,

2019 was an exceptional year for China Xiangtai Food Co. Ltd. since we have built many key milestones in the Company’s history of development. We felt truly honored and blessed for earning the long-term trust and support from our shareholders that make it possible for us to continually overcome difficulties and achieve ‘s outstanding results.

Our business growth was stable for the fiscal year ended June 30, 2019, even under the widely spread African swine fever in China and an increasingly uncertain global business environment with a significant RMB devaluation. We had once again reached our financial expectations while generating $102.55 million in revenue and $4.36 million in net income, which had demonstrated our ongoing focus in optimizing our business strategies. Our supermarket and grocery stores sales continued to show rapid growth, achieving an increase of 95.2% with the newly acquired grocery stores sales. We believed that the overall business environment had been optimistic due to the continuous economic growth as well as surges in pork prices this year. In addition, the Company’s total assets reached $51.35 million which representing a 52.2% year-on-year increase.

The Consumer Goods sector company, China Xiangtai Food Co., Ltd. noticed change of -3.12% to $3.72 along volume of 64839 shares in Tuesday session compared to an average volume of 65.76K shares. The stock observed return of -4.62% in 5 days trading activity. The stock was at -7.46% over one month performance. PLIN’s shares are at -16.22% for the quarter is now at -4.62% since this point in 2018.

The average volatility for the week at 5.52% and for month was at 4.23%. There are 24.74M shares outstanding and 10.79M shares are floated in market.

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