LZ Technology (NASDAQ:LZMH) Stock Price Down 4.7% – Time to Sell?

LZ Technology Holdings Limited (NASDAQ:LZMH)’s share price traded down 4.7% during mid-day trading on Thursday . The stock traded as low as $1.41 and last traded at $1.42. 101,949 shares were traded during trading, a decline of 75% from the average session volume of 410,082 shares. The stock had previously closed at $1.49.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of LZ Technology in a report on Monday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

LZ Technology Trading Down 4.7%

The business’s fifty day simple moving average is $2.83 and its two-hundred day simple moving average is $6.26.

Hedge Funds Weigh In On LZ Technology

An institutional investor recently bought a new position in LZ Technology stock. BNP Paribas Financial Markets bought a new position in shares of LZ Technology Holdings Limited (NASDAQ:LZMH) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,056 shares of the company’s stock, valued at approximately $51,000.

About LZ Technology

As a holding company with no material operations of its own, LZ Technology conducts its operations through its operating entities formed in the PRC, primarily Lianzhang Portal and its subsidiaries. For the years ended December 31, 2022 and 2023, the Company had a total of 247 and 255 customers, respectively, who entered into contracts with the Company to purchase the Company’s products and services.