Lakeside (NASDAQ:LSH) Trading Down 6.5% – Here’s Why

Shares of Lakeside Holding Limited (NASDAQ:LSH) dropped 6.5% during trading on Wednesday . The company traded as low as $0.3863 and last traded at $0.4261. Approximately 2,049,430 shares traded hands during mid-day trading, an increase of 2,127% from the average session volume of 92,042 shares. The stock had previously closed at $0.4556.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lakeside in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Lakeside currently has an average rating of “Sell”.

Lakeside Stock Performance

The company has a fifty day simple moving average of $0.62 and a two-hundred day simple moving average of $0.73. The firm has a market capitalization of $7.43 million, a PE ratio of -1.58 and a beta of 1.41.

Institutional Trading of Lakeside

A hedge fund recently raised its position in Lakeside stock. Geode Capital Management LLC increased its holdings in Lakeside Holding Limited (NASDAQ:LSH) by 352.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,900 shares of the company’s stock after acquiring an additional 54,445 shares during the quarter. Geode Capital Management LLC owned approximately 0.40% of Lakeside worth $62,000 as of its most recent SEC filing.

Lakeside Company Profile

Lakeside Holding Limited, through its subsidiaries, provides integrated cross-border supply chain solution in the United States, China, South Korea, and internationally. It offers a range of integrated services under cross-border ocean freight solutions and cross-border airfreight solutions, including cross-border freight consolidation and forwarding services, customs clearance services, warehousing and distribution services, and U.S. domestic ground transportation services. The company customers include logistics service companies serving e-commerce platforms, social commerce platforms, and manufacturers to sell and transport consumer and industrial goods.