Shengfeng Development (NASDAQ:SFWL) Stock Price Down 1.8%

Shares of Shengfeng Development Limited (NASDAQ:SFWL) dropped 1.8% during mid-day trading on Friday . The company traded as low as $1.59 and last traded at $1.63. Approximately 107,861 shares were traded during trading, a decline of 75% from the average daily volume of 430,203 shares. The stock had previously closed at $1.66.

Shengfeng Development Price Performance

The company’s 50 day moving average is $1.75 and its two-hundred day moving average is $5.92.

Institutional Investors Weigh In On Shengfeng Development

Several large investors have recently modified their holdings of SFWL. Invesco Ltd. bought a new stake in Shengfeng Development in the third quarter valued at $453,000. Goldman Sachs Group Inc. acquired a new position in Shengfeng Development in the fourth quarter valued at about $81,000. Finally, Geode Capital Management LLC bought a new stake in Shengfeng Development during the second quarter worth about $206,000. 1.06% of the stock is currently owned by institutional investors.

Shengfeng Development Company Profile

Shengfeng Development Limited, through its subsidiaries, provides contract logistics services in the People's Republic of China. The company offers business-to-business freight transportation services, such as full truckload and less than truckload; and cloud storage services, including warehouse management, order fulfillment, delivery process management, in-warehouse processing, and inventory optimization management services.