Shanghai Electric Group (OTCMKTS:SIELY) Shares Gap Down - Here's What Happened

Key Points

• Shares gapped down 13.0%, opening at $10.25 on Monday after a prior close of $11.78, with 661 shares trading.
• The stock is trading below its 50‑day ($11.28) and 200‑day ($10.80) moving averages, indicating short- and medium-term technical weakness.
• Shanghai Electric is a Chinese state‑owned industrial company that designs and manufactures power‑generation equipment such as steam and gas turbines, boilers and generators.

Shanghai Electric Group Co., Ltd. (OTCMKTS:SIELY - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $11.78, but opened at $10.25. Shanghai Electric Group shares last traded at $10.25, with a volume of 661 shares trading hands.

Shanghai Electric Group Stock Down 13.0%

The stock's 50 day moving average is $11.28 and its 200 day moving average is $10.80.

About Shanghai Electric Group

Shanghai Electric Group Co, Ltd. is a leading Chinese state‐owned enterprise specializing in the design, research and development, manufacture and sale of power generation and industrial equipment. Founded in 2004 through the consolidation of several historic Shanghai‐based manufacturing entities, the company has roots dating back to early electrical apparatus production in the mid‐20th century. Shanghai Electric operates as a vertically integrated supplier, providing key components and turnkey solutions for power plants, industrial facilities and infrastructure projects.

The company's principal product lines include steam and gas turbines, boilers, generators and auxiliary equipment for thermal and nuclear power stations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.