Northann (NYSE:NCL) Trading 64% Higher – Time to Buy?

Shares of Northann Corp. (NYSE:NCL) were up 64% during mid-day trading on Wednesday . The stock traded as high as $0.34 and last traded at $0.2810. Approximately 307,511,018 shares changed hands during trading, an increase of 15,605% from the average daily volume of 1,958,094 shares. The stock had previously closed at $0.1713.

Northann Price Performance

The company has a 50 day moving average of $0.45 and a 200 day moving average of $0.99. The stock has a market capitalization of $6.39 million, a price-to-earnings ratio of -1.40 and a beta of 0.24. The company has a quick ratio of 0.19, a current ratio of 0.53 and a debt-to-equity ratio of 0.09.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Northann stock. Geode Capital Management LLC increased its stake in Northann Corp. (NYSE:NCL) by 81.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 179,915 shares of the company’s stock after acquiring an additional 80,689 shares during the period. Geode Capital Management LLC owned approximately 0.19% of Northann worth $29,000 as of its most recent SEC filing. Institutional investors and hedge funds own 0.34% of the company’s stock.

Northann Company Profile

Northann Corp. engages in the manufacture, wholesale, and retail of the 3D printed vinyl flooring panels and other decorative panels in North America, Europe, and internationally. The company offers its products under the Benchwick brand name. Northann Corp. was founded in 2013 and is based in Elk Grove, California.