China Green Agriculture Down 8% on Mixed Guidance (CGA)
Shares of China Green Agriculture, Inc. (NYSE: CGA) are off 8%, currently trading at $9.38 on a revision to the company’s FY 2011 guidance. The company now expects FY 2011 EPS of at least $1.35 on revenues of at least $150.5 million; this compares to the Street consensus of $1.43 per share on revenues of $156.48 million.
CGA also reported that its Q4 EPS was $0.24 on revenues of $16.2 million. Revenues increased 54.5% year over year.
Shares have been rallying as of late, but have now sold off below the 18-day and 50-day moving averages, which is a bearish sign. Next support is $8.15.
China Green Agriculture, Inc. operates through its two wholly owned subsidiaries in China, TechTeam Jinong Humic Acid Product Co., Ltd. and Xi'an Jintai Agriculture Technology Development Company. The company has two business segments: research, development, production and distribution of humic acid based compound fertilizer, and development, production and distribution of agricultural products namely, top-grade fruits, vegetables, flowers and colored seedlings.
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