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

MingZhu Logistics logo with Transportation background

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.
  • Five stocks we like better than MingZhu Logistics.

MingZhu Logistics Holdings Limited (NASDAQ:YGMZ - Get Free Report)'s stock price rose 3.1% during mid-day trading on Wednesday . The stock traded as high as $0.82 and last traded at $0.71. Approximately 4,503 shares traded hands 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 Price Performance

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 company has a fifty day simple moving average of $0.86 and a 200-day simple moving average of $0.97.

Hedge Funds Weigh In On MingZhu Logistics

A hedge fund recently bought a new stake in MingZhu Logistics stock. Geode Capital Management LLC purchased a new position in shares of MingZhu Logistics Holdings Limited (NASDAQ:YGMZ - Free Report) in the second quarter, according to its most recent filing 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 currently owned by institutional investors and hedge funds.

About MingZhu Logistics

(Get Free Report)

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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