LZ Technology (NASDAQ:LZMH) Trading Down 2.3% – Time to Sell?

Shares of LZ Technology Holdings Limited (NASDAQ:LZMH) were down 2.3% during trading on Wednesday . The company traded as low as $1.27 and last traded at $1.29. Approximately 182,804 shares traded hands during mid-day trading, a decline of 18% from the average daily volume of 223,182 shares. The stock had previously closed at $1.32.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of LZ Technology in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

LZ Technology Stock Performance

The company has a 50-day simple moving average of $1.76 and a two-hundred day simple moving average of $3.07.

LZ Technology (NASDAQ:LZMH) last released its earnings results on Friday, November 21st. The company reported ($0.02) earnings per share for the quarter. The company had revenue of $28.89 million for the quarter.

Institutional Investors Weigh In On LZ Technology

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

LZ Technology Company Profile

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. For the six months ended June 30, 2024 and 2023, the Company had a total of 168 and 102 customers, respectively, who entered into contracts with the Company to purchase the Company’s products and services.