J-Long Group (NASDAQ:JL) Trading Down 7.4% – Here’s Why

J-Long Group Limited (NASDAQ:JL) shares dropped 7.4% on Wednesday . The stock traded as low as $5.60 and last traded at $5.60. 91,770 shares traded hands during trading, an increase of 6% from the average daily volume of 86,931 shares. The stock had previously closed at $6.05.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of J-Long Group from a “sell (e)” rating to a “sell (d-)” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

J-Long Group Price Performance

The firm has a 50 day simple moving average of $6.39 and a two-hundred day simple moving average of $5.65. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.36 and a current ratio of 2.79.

Hedge Funds Weigh In On J-Long Group

A hedge fund recently bought a new position in J-Long Group stock. Renaissance Technologies LLC acquired a new stake in J-Long Group Limited (NASDAQ:JL) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,425 shares of the company’s stock, valued at approximately $72,000. Renaissance Technologies LLC owned approximately 0.28% of J-Long Group as of its most recent SEC filing.

About J-Long Group

J-Long Group Limited distributes reflective and non-reflective garment trims in Asia, Hong Kong, the People's Republic of China, and internationally. The company offers heat transfers, fabrics, woven labels and tapes, sewing badges, piping, zipper pullers, and drawcords. It also sells through online. The company was founded in 1985 and is based in Tsuen Wan, Hong Kong.