Shares of Cleantech Solutions International Inc (NASDAQ:CLNT) have popped 37% after the company announced that it has regained compliance with the NASDAQ minimum bid price listing requirement. Due to the company’s closing bid price achieving $1 or higher for the last 10 consecutive trading days, the NASDAQ exchange has notified Cleantech Solutions International Inc (NASDAQ:CLNT) that the company is once again in compliance with Nasdaq Marketplace Rule 5550(a)(2). Shares of the company achieved compliance in part due to a 1:4 reverse split.
Typically stocks that are de-listed or on the OTC markets command lower valuations than stocks listed on the NASDAQ or NYSE.
What Does The Smart Money Sentiment Say?
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According to our data, none of the 742 elite funds we track owned any shares of Cleantech Solutions International Inc (NASDAQ:CLNT) at the end of Q4.
The Bottom Line
Cleantech Solutions International Inc (NASDAQ:CLNT) shares have surged after the company regained compliance with the NASDAQ. The news has improved sentiment, which has in turn sent shares higher. Nothing fundamentally concerning the company has changed, however. For more reading, check out ‘8 Countries That Produce The Most Wind Energy In the World‘.