MingZhu Logistics (NASDAQ:YGMZ) Shares Up 19.1% – Here’s Why

MingZhu Logistics Holdings Limited (NASDAQ:YGMZ) shares shot up 19.1% on Friday . The stock traded as high as $1.00 and last traded at $1.00. 505,706 shares were traded during trading, an increase of 112% from the average session volume of 238,457 shares. The stock had previously closed at $0.84.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of MingZhu Logistics in a research note on Wednesday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, MingZhu Logistics has an average rating of “Sell”.

MingZhu Logistics Price Performance

The stock’s 50-day moving average price is $0.79 and its 200 day moving average price is $0.97.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MingZhu Logistics stock. Geode Capital Management LLC acquired a new position in shares of MingZhu Logistics Holdings Limited (NASDAQ:YGMZ) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 29,831 shares of the company’s stock, valued at approximately $30,000. Institutional investors and hedge funds 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.