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MingZhu Logistics Holdings Limited (YGMZ) Volatility Reaches 8.43%: Tighten Your Seat Belt

MingZhu Logistics Holdings Limited (NASDAQ:YGMZ) concluded the trading at $2.41 on Wednesday, November 23 with a rise of 11.08% from its closing price on previous day.

Taking a look at stock we notice that its last check on previous day was $2.17 and 5Y monthly beta was reading 1.15 with its price kept floating in the range of $2.10 and $2.45 on the day. Considering stock’s 52-week price range provides that YGMZ hit a high price of $3.38 and saw its price falling to a low level of $1.24 during that period. Over a period of past 1-month, stock came adding 22.34% in its value.

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In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review YGMZ stock’s current outlook then short term indicators are assigning it an average of 50% Sell, while medium term indicators are categorizing the stock at an average of 50% Sell. Long term indicators are suggesting an average of 100% Buy for it.

Digging deeper we become aware of the PEG ratio of the YGMZ stock which is currently positioned at 0. It further provides that stock’s current price level is 31.23% away from its 20-day simple moving average and is 20.36% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 71.37 while volatility remained at 8.43% over the past week which changes to 7.24% when measuring it over the past month. Average true range or ATR is currently at 0.15.

Having a second look at MingZhu Logistics Holdings Limited (NASDAQ:YGMZ) provides that stock’s average daily trading volume for 3 months was 29.15K, while it jumped to 52690.0 when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 14.49 million.

The percentage of outstanding shares held by the insiders is 67.40% while it is 0.20% for the institutional holders. The figures also indicate that as of Oct 13, 2022, number of stock’s short shares was 53330.0 which implies a short ratio of 2.34. This shows up a 0.23% of Short Interest in company’s outstanding shares on the day. In October the standing of shares short improved as it was 34170.0 in the previous month. Addition of 17.56% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.

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