Akso Health Group (NASDAQ:AHG) Stock Price Down 7% - Here's What Happened

Key Points

• Akso Health Group shares fell 7% to about $1.48 in mid-day trading, with only 424 shares changing hands versus an average volume of 66,449.
• Analysts remain negative on the stock: Weiss Ratings reiterated a “sell (D-)” rating, and MarketBeat data shows an average rating of “Sell.”
• In its latest quarterly report, Akso Health Group posted a $0.01 per-share loss and $3.42 million in revenue; institutional ownership remains limited at 1.21% despite SmartHarvest Portfolios more than doubling its stake.

Shares of Akso Health Group Sponsored ADR (NASDAQ:AHG - Get Free Report) fell 7% during mid-day trading on Monday . The company traded as low as $1.49 and last traded at $1.4780. 424 shares were traded during mid-day trading, a decline of 99% from the average session volume of 66,449 shares. The stock had previously closed at $1.59.

Wall Street Analyst Weigh In

AHG has been the subject of a number of research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Akso Health Group in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Akso Health Group to a "sell" rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of "Sell".

Akso Health Group Stock Down 8.3%

The stock has a fifty day moving average of $1.46 and a 200 day moving average of $1.70.

Akso Health Group (NASDAQ:AHG - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The company reported ($0.01) earnings per share (EPS) for the quarter. The business had revenue of $3.42 million during the quarter.

Hedge Funds Weigh In On Akso Health Group

An institutional investor recently raised its stake in Akso Health Group stock. SmartHarvest Portfolios LLC lifted its position in Akso Health Group Sponsored ADR (NASDAQ:AHG - Free Report) by 111.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,429 shares of the company's stock after purchasing an additional 18,681 shares during the period. SmartHarvest Portfolios LLC's holdings in Akso Health Group were worth $81,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 1.21% of the company's stock.

Akso Health Group Company Profile

Akso Health Group operates a social e-commerce mobile platform in China. The company operates Xiaobai Maimai App, which offers food and beverage products, wine, cosmetic products, fashion and apparel, entertainment products, housewares, home appliances, and cost-saving promotions at petrol gas stations. It also offers consultancy and information technology support services; provides health treatment services; sells medical devices; and trades in branded products, as well as promotes products. The company was formerly known as Xiaobai Maimai Inc and changed its name to Akso Health Group in December 2021.

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