MingZhu Logistics (NASDAQ:YGMZ) Trading Up 3.1% - Should You Buy?

Key Points

• MingZhu Logistics (NASDAQ:YGMZ) shares rose by 3.1%, trading at $0.71 after reaching a high of $0.82, though trading volume significantly dropped to 4,503 shares.
• An institutional investor, Geode Capital Management LLC, has recently acquired 29,831 shares of MingZhu Logistics, reflecting a growing interest in the stock with 0.17% of shares now owned by institutional investors.
• The company offers various services including trucking, car-hailing, and driver management within the People's Republic of China, targeting significant logistics and supply chain partners.

MingZhu Logistics Holdings Limited (NASDAQ:YGMZ - ) shares were up 3.1% during trading on Wednesday . The company traded as high as $0.82 and last traded at $0.71. Approximately 4,503 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 19,356 shares. The stock had previously closed at $0.69.

MingZhu Logistics Trading Up 3.1%

The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $0.88 and a 200 day moving average price of $0.97.

Hedge Funds Weigh In On MingZhu Logistics

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

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.

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