Monday, June 27, 2022

Fenix Parts Inc (OTCMKTS:FENX) is in Survival Mode

Fenix Parts Inc (OTCMKTS:FENX) saw a 64% fall this week after being delisted to the pink sheets. Separately, Fenix announced an amendment to the agreement with its creditors, in which the lenders will refrain until Aug. 31 from exercising rights with respect to Fenix’s noncompliance with certain financial covenants. FENX has lost nearly 80% of its value since its highs in 2015. So, what happened?
Fenix Parts is a leading recycler and reseller of original equipment manufacturer (“OEM”) automotive products. The company’s primary business is auto recycling, which is the recovery and resale of OEM parts, components and systems reclaimed from damaged, totaled or low value vehicles. Customers include collision repair shops (body shops), mechanical repair shops, auto dealerships and individual retail customers. Fenix provides its customers with high-quality recycled OEM products, extensive inventory and product availability, responsive customer service and fast delivery.
Fenix Parts Inc (OTCMKTS:FENX), according to company materials, was founded in 2014 to create a network that offers sales, fulfillment and distribution in key regional markets in the United States and Canada. The Fenix companies have been in business an average of more than 25 years and currently operate from 16 locations throughout the Eastern U.S. and in Ontario, Canada.
Find out when $FENX stock reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.


Since recently hitting the pink sheets the stock has continued to fall and some analysts have boldly predicted that it will continue to seek a much lower bottom.
Moving toward the technical facts, its current distance from 20-Day Simple Moving Average is -70.68% and standing -63.45% away from 50-Day Simple Moving Average while traded down -81.26% from 200-Day Simple Moving Average.
Let’s take an assessment at how FENX has been performing. The shares price has positioned -71.88% down over the past quarter while it has directed -84.15% toward a falling position throughout past six months. The shares price has directed -87.80% toward a lower level throughout last year and swapped -67.86% toward a weak spot during past one month.
FENX has some serious downward pressure right now. Currently, Fenix Parts, Inc. net profit margin for the 12 months is at -42.31%. Comparatively, peers in the same sector have a net margin 6.55%, and the sector’s average is 12.37%. In addition, there are numerous lawsuits by shareholders against FENX right now.
Fenix Parts Inc (OTCMKTS:FENX) is falling hard and investors should steer clear until the company hits bottom. There are some opinions that the company still has value and could return to a plus $3 or $4 range. With shares currently sinking past .45 cents, it would be wise to watch out for FENX on a rebound rise, but as of right now, this is steer clear. We will be watching for updates and more news from the company. For more news on FENX and other fast-moving penny stocks, please subscribe to OracleDispatch.com below.

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
3,367FollowersFollow
19,800SubscribersSubscribe

Latest Articles