Caravelle International Group (NASDAQ:HTCO - Get Free Report) traded down 17.6% on Monday . The company traded as low as $8.68 and last traded at $9.28. 122,504 shares changed hands during mid-day trading, an increase of 100% from the average session volume of 61,139 shares. The stock had previously closed at $11.26.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen upgraded shares of Caravelle International Group to a "hold" rating in a research report on Saturday, August 9th.
Get Our Latest Analysis on HTCO
Caravelle International Group Price Performance
The business's 50-day simple moving average is $6.82 and its two-hundred day simple moving average is $22.40.
Caravelle International Group declared that its board has approved a share repurchase program on Thursday, August 28th that permits the company to buyback $5.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its shares are undervalued.
About Caravelle International Group
(
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Caravelle International Group, through its subsidiaries, provides ocean transportation services in Singapore and internationally. The company operates through Ocean Transportation and Heating Business segments. It provides international shipping services and carbon-neutral solutions for wood desiccation.
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