LZ Technology (NASDAQ:LZMH) Trading Down 0.9% - Time to Sell?

Key Points

• LZ Technology Holdings Limited's stock price fell 0.9% to close at $3.44, with trading volume significantly lower than average.
• BNP Paribas Financial Markets has acquired a new position in LZ Technology, purchasing 3,056 shares valued at approximately $51,000.
• The company's customer base increased slightly, with 255 customers contracting for products and services in 2023, compared to 247 customers in 2022.

LZ Technology Holdings Limited (NASDAQ:LZMH - Get Free Report)'s stock price fell 0.9% during mid-day trading on Tuesday . The company traded as low as $3.34 and last traded at $3.44. 405,005 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 546,866 shares. The stock had previously closed at $3.47.

LZ Technology Trading Down 1.2%

The stock has a 50-day simple moving average of $4.27.

Hedge Funds Weigh In On LZ Technology

An institutional investor recently bought a new position in LZ Technology stock. BNP Paribas Financial Markets purchased a new stake in shares of LZ Technology Holdings Limited (NASDAQ:LZMH - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,056 shares of the company's stock, valued at approximately $51,000.

LZ Technology Company Profile

As a holding company with no material operations of its own, LZ Technology conducts its operations through its operating entities formed in the PRC, primarily Lianzhang Portal and its subsidiaries. For the years ended December 31, 2022 and 2023, the Company had a total of 247 and 255 customers, respectively, who entered into contracts with the Company to purchase the Company's products and services.