China MediaExpress Holdings, Inc. (CCME) continues to nosedive. Ticker is trading near session lows on heavy volume. Selloff attributed to a Muddy Waters report that has initiated coverage on the shares of China MediaExpress with a “Strong Sell” rating and an estimated value of $5.28.
Volume has exploded with more than 6.4 million CCME shares already trading hands compared to a daily average volume of 1.7 million. The day’s trading range for the ticker has been between $13.62 and $17.32 per share.
CCME currently trades at a trailing P/E of 6.22 a forward P/E of 4.93 and a P/E to Growth ratio of 0.38. The median Wall Street price target on the name is $29.00 with a high target of $32.00.
At last check, CCME was down $2.36, or 14.21%, to $14.30.
China MediaExpress Holdings, Inc. provides television advertising network on inter-city express buses in China. The co. is headquartered in Fuzhou, the Peoples Republic of China.