China Xiangtai Food Co., Ltd. (NASDAQ:PLIN – Get Rating) dropped 3.2% during mid-day trading on Thursday . The company traded as low as $0.44 and last traded at $0.46. Approximately 483,409 shares traded hands during mid-day trading, an increase of 71% from the average daily volume of 282,637 shares. The stock had previously closed at $0.47.
The business has a 50-day simple moving average of $0.82 and a 200-day simple moving average of $1.15.
Several hedge funds have recently added to or reduced their stakes in the company. Two Sigma Securities LLC purchased a new position in China Xiangtai Food during the third quarter valued at approximately $124,000. Renaissance Technologies LLC boosted its holdings in shares of China Xiangtai Food by 186.4% during the 1st quarter. Renaissance Technologies LLC now owns 83,500 shares of the company’s stock worth $92,000 after buying an additional 54,340 shares during the period. Virtu Financial LLC boosted its holdings in shares of China Xiangtai Food by 85.2% during the 4th quarter. Virtu Financial LLC now owns 32,256 shares of the company’s stock worth $44,000 after buying an additional 14,837 shares during the period. UBS Group AG boosted its holdings in shares of China Xiangtai Food by 308.4% during the 1st quarter. UBS Group AG now owns 30,179 shares of the company’s stock worth $33,000 after buying an additional 22,789 shares during the period. Finally, Morgan Stanley bought a new stake in shares of China Xiangtai Food during the 2nd quarter worth $45,000. Institutional investors and hedge funds own 1.48% of the company’s stock.
China Xiangtai Food Co, Ltd., through its subsidiaries, engages in the slaughtering, processing, packing, distribution, wholesale, and retail of various fresh pork meat and parts in the People's Republic of China. It offers fresh pork and byproducts, as well as beef, lamb, chicken, duck, and rabbit meat.
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