LZ Technology (NASDAQ:LZMH) Shares Up 5.8% - Here's What Happened

Key Points

• LZ Technology Holdings Limited shares increased by 5.8% on Tuesday, closing at $3.62 after hitting a high of $3.64.
• Institutional investor BNP Paribas Financial Markets recently acquired a new stake in LZ Technology, purchasing 3,056 shares valued at approximately $51,000.
• The company's stock had an average trading volume of 589,715 shares, but saw a decline in volume to 254,082 shares during this trading session.

Shares of LZ Technology Holdings Limited (NASDAQ:LZMH - Get Free Report) were up 5.8% during trading on Tuesday . The stock traded as high as $3.64 and last traded at $3.62. Approximately 254,082 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 589,715 shares. The stock had previously closed at $3.42.

LZ Technology Trading Up 2.3%

The business has a 50-day moving average price of $4.76.

Institutional Investors Weigh In On LZ Technology

An institutional investor recently bought a new position in LZ Technology stock. BNP Paribas Financial Markets bought a new stake in LZ Technology Holdings Limited (NASDAQ:LZMH - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 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.