Shengfeng Development (NASDAQ:SFWL) Shares Down 1.8%

Shengfeng Development Limited (NASDAQ:SFWL) traded down 1.8% during trading on Friday . The company traded as low as $1.59 and last traded at $1.63. 107,861 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 430,203 shares. The stock had previously closed at $1.66.

Shengfeng Development Stock Performance

The business has a 50-day moving average price of $1.75 and a 200 day moving average price of $5.95.

Hedge Funds Weigh In On Shengfeng Development

Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. purchased a new stake in Shengfeng Development in the 4th quarter worth about $81,000. Geode Capital Management LLC acquired a new position in Shengfeng Development in the 2nd quarter valued at approximately $206,000. Finally, Invesco Ltd. acquired a new position in Shengfeng Development in the 3rd quarter valued at approximately $453,000. Institutional investors and hedge funds own 1.06% of the company’s stock.

About Shengfeng Development

Shengfeng Development Limited, through its subsidiaries, provides contract logistics services in the People's Republic of China. The company offers business-to-business freight transportation services, such as full truckload and less than truckload; and cloud storage services, including warehouse management, order fulfillment, delivery process management, in-warehouse processing, and inventory optimization management services.