NiSun International Enterprise Development Group (NASDAQ:NISN) Trading Up 2.8% – What’s Next?

Shares of NiSun International Enterprise Development Group Co., Ltd. (NASDAQ:NISN) shot up 2.8% on Wednesday . The stock traded as high as $1.1293 and last traded at $1.10. 14,151 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 42,183 shares. The stock had previously closed at $1.07.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of NiSun International Enterprise Development Group in a research note on Friday, December 26th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

NiSun International Enterprise Development Group Price Performance

The stock’s 50-day moving average is $2.40 and its 200 day moving average is $3.36.

Institutional Trading of NiSun International Enterprise Development Group

A hedge fund recently raised its stake in NiSun International Enterprise Development Group stock. Squarepoint Ops LLC lifted its holdings in NiSun International Enterprise Development Group Co., Ltd. (NASDAQ:NISN) by 38.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,878 shares of the company’s stock after buying an additional 6,325 shares during the quarter. Squarepoint Ops LLC owned 0.50% of NiSun International Enterprise Development Group worth $89,000 as of its most recent SEC filing. Institutional investors and hedge funds own 4.73% of the company’s stock.

About NiSun International Enterprise Development Group

NiSun International Enterprise Development Group Limited (NASDAQ: NISN) is a China-based diversified enterprise primarily engaged in the procurement and distribution of telecommunications products, property services and outdoor advertising. Through its telecommunications segment, NiSun sources and supplies prepaid calling cards, prepaid cellular cards and recharge vouchers for major domestic carriers, including China Mobile, China Unicom and China Telecom. This business leverages the company’s nationwide distribution network to serve retail outlets, convenience stores and e-commerce platforms across Mainland China.

In addition to its telecom operations, NiSun provides property management and commercial real estate services.