Shengfeng Development (NASDAQ:SFWL) Trading Down 1.8% – Here’s What Happened

Shares of Shengfeng Development Limited (NASDAQ:SFWL) dropped 1.8% during mid-day trading on Tuesday . The company traded as low as $0.9601 and last traded at $0.9780. Approximately 1,502 shares traded hands during trading, a decline of 98% from the average daily volume of 93,951 shares. The stock had previously closed at $0.9960.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Shengfeng Development from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Shengfeng Development Stock Performance

The stock has a 50-day simple moving average of $0.94 and a 200 day simple moving average of $1.00.

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. It also provides value-added services comprising collection on delivery, customs declaration, delivery upstairs, packaging, pay-at-arrival, return proof of delivery, and shipment protection.