MingZhu Logistics (NASDAQ:YGMZ) Shares Up 1.6% - Here's What Happened

Key Points

• MingZhu Logistics' stock price increased by 1.6% on Thursday, closing at $0.73 after trading as high as $0.76 with a significant rise in trading volume.
• An institutional investor, Geode Capital Management LLC, acquired 29,831 shares of MingZhu Logistics during the second quarter, valued at approximately $30,000.
• MingZhu Logistics operates primarily in trucking and logistics services in China, catering to third-party logistics companies, freight forwarders, and warehouse operators.

Shares of MingZhu Logistics Holdings Limited (NASDAQ:YGMZ - Get Free Report) rose 1.6% during trading on Thursday . The stock traded as high as $0.76 and last traded at $0.73. Approximately 1,128,131 shares traded hands during trading, an increase of 649% from the average daily volume of 150,548 shares. The stock had previously closed at $0.72.

MingZhu Logistics Stock Performance

The firm has a fifty day simple moving average of $0.83 and a 200 day simple moving average of $0.98. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On MingZhu Logistics

An institutional investor recently bought a new position in MingZhu Logistics stock. Geode Capital Management LLC bought a new position in MingZhu Logistics Holdings Limited (NASDAQ:YGMZ - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 29,831 shares of the company's stock, valued at approximately $30,000. Institutional investors own 0.17% of the company's stock.

MingZhu Logistics Company Profile

MingZhu Logistics Holdings Limited, through its subsidiaries, provides trucking services in the People's Republic of China. The company also provides car-hailing and driver management services, and car owner services. It serves sizeable third-party logistics companies, freight forwarders, and warehouse operators, as well as other supply chain service providers.