CLOOPEN GROUP HOLDING LIMITED

(RAAS)
  Report
Delayed Nyse  -  05/20 04:00:02 pm EDT
0.7011 USD   -3.77%
05/20CLOOPEN : Consolidated Financial Statements - Form 6-K
PU
05/20Cloopen Group Gets Non-Compliance Notice From NYSE for Delay in Filing Annual Report
MT
05/18Cloopen Announces Changes in Independent Directors
PR
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Cloopen Group Holding Limited (RAAS) on Behalf of Investors

12/13/2021 | 02:48pm EDT

Law Offices of Howard G. Smith announces an investigation on behalf of Cloopen Group Holding Limited (“Cloopen” or the “Company”) (NYSE: RAAS) investors concerning the Company’s possible violations of the federal securities laws.

In February 2021, Cloopen conducted its initial public offering (“IPO”), selling 23 million American Depositary Shares (“ADSs” or “shares”) at $16 per ADS.

On March 26, 2021, Cloopen released its 2020 fourth quarter financial results for the period ending December 31, 2020 – more than a month before the IPO. Cloopen reported revenues of $39.6 million, $2 million short of analysts’ consensus, as well as net losses of $46.8 million (a 466.9% year-over-year increase), and operating expenses of $27.6 million (a 30% year-over-year increase).

On this news, Cloopen’s shares fell $14.42, or 18.5%, to close at $11.75 per ADS on March 26, 2021.

On May 10, 2021, Cloopen filed its 2020 annual report, revealing that its dollar-based net customer retention rate for recurring solutions fell from 102.7% in 2019 to 86.8% in 2020, which meant that Cloopen’s purportedly “loyal” customer base was not “expand[ing]” into additional solutions and the Company’s growth strategy was not effective.

On this news, Cloopen’s shares closed at $8.97 per ADS on May 12, 2021. Since the IPO, Cloopen’s ADSs have traded as low as $2.70 per ADS, an 80% decline from the $16 IPO price.

If you purchased Cloopen securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


© Business Wire 2021
All news about CLOOPEN GROUP HOLDING LIMITED
05/20CLOOPEN : Consolidated Financial Statements - Form 6-K
PU
05/20Cloopen Group Gets Non-Compliance Notice From NYSE for Delay in Filing Annual Report
MT
05/18Cloopen Announces Changes in Independent Directors
PR
05/18Cloopen Group Holding Limited Announces Executive Changes
CI
05/04Hi Sun's NYSE-listed Associate Cloopen Probes Misconduct Issues Flagged by Auditor; Sha..
MT
05/03Cloopen Announced Formation of Independent Special Committee for Internal Investigation
PR
03/01Hi Sun Technology Sees Higher 2021 Profit
MT
01/17TRANSCRIPT : Cloopen Group Holding Limited - Special Call
CI
01/17Cloopen Group to Seek M&A
CI
01/12Cloopen Group Holding Limited to Host Its Virtual Investor Conference on January 18, 20..
PR
More news
Analyst Recommendations on CLOOPEN GROUP HOLDING LIMITED
More recommendations
Financials
Sales 2021 1 046 M 156 M 156 M
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 771 M 115 M 115 M
Capi. / Sales 2021 0,74x
Capi. / Sales 2022 0,55x
Nbr of Employees 1 194
Free-Float 92,2%
Chart CLOOPEN GROUP HOLDING LIMITED
Duration : Period :
Cloopen Group Holding Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CLOOPEN GROUP HOLDING LIMITED
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 2
Last Close Price 4,69 CNY
Average target price 46,71 CNY
Spread / Average Target 896%
Managers and Directors
Chang Xun Sun Chairman & Chief Executive Officer
Yi Peng Li Chief Financial Officer & Director
Xie Gang Xiong Director, Chief Technology & Product Officer
Ziguang Gao Independent Director
Ju Tao Zhao Independent Director
Sector and Competitors