Meten Edtechx Education Group Ltd (NASDAQ: METX) closed with mild gains, but down for the week. Will the momentum continue next week?
METX stock went up 3.85% to close at $1.35 on Friday. The stock made a high and low of $1.38 and $1.07 respectively for the session after opening at $1.07. The total volume for the day was 3.54 million shares. However, the stock fell about 10.60% last week.
METX Released News
Earlier this week, the company issued a press release. Here are the key snapshots:
Meten EdtechX Achieves Positive Cash Flow in March 2021
- METX reported that the Company achieved positive cash flow in March 2021.
- The Company’s overall operating cash flow reached RMB8.2 million in March 2021. Particularly, the operating cash flow from offline learning centers was RMB15.59 million, excluding the ABC Junior ELT business which operation was temporarily paused due to policy restrictions.
- The positive operating cash flow was mainly a result of the increasing gross billing generated by the Company’s offline learning centers which have resumed normal operation and recovered from the impact of the COVID-19 outbreak.
- Looking forward, the Company will implement its cash flow optimization strategies.
The Company expects to adjust the operating structure by closing poorly performing stores or replacing their teams, increasing the sales of services with high profit margins through optimizing the incentive plan, reducing expenditures of headquarters and regional branches, and improving the efficiency of telemarketing.
METX is trading well above its 50-day and 200-day moving average of $2.08 and $3.93 respectively. The stock has fallen 32.50% so far this year. The stock has an RSI of 30.40, signaling a slightly oversold zone.
|+/- EMA(20)||1.63 (-17.18%)|
|+/- SMA(50)||2.08 (-35.10%)|
|+/- SMA(200)||3.93 (-65.65%)|
Potential pivot points to keep an eye on are 1.43, 1.56, and 1.88 above and 1.11, .92, and .60 below.