Northann (NYSE:NCL) Trading Up 64% – Should You Buy?

Northann Corp. (NYSE:NCL) shares shot up 64% during trading on Wednesday . The company traded as high as $0.34 and last traded at $0.2810. 307,511,018 shares were traded during mid-day trading, an increase of 15,605% from the average session volume of 1,958,094 shares. The stock had previously closed at $0.1713.

Northann Stock Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.19 and a current ratio of 0.53. The company has a 50 day moving average price of $0.44 and a 200 day moving average price of $0.99. The company has a market capitalization of $7.23 million, a PE ratio of -1.59 and a beta of 0.24.

Institutional Investors Weigh In On Northann

A hedge fund recently raised its stake in Northann stock. Geode Capital Management LLC grew its stake in shares of Northann Corp. (NYSE:NCL) by 81.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 179,915 shares of the company’s stock after purchasing an additional 80,689 shares during the quarter. Geode Capital Management LLC owned approximately 0.19% of Northann worth $29,000 as of its most recent SEC filing. Institutional investors own 0.34% of the company’s stock.

About Northann

Northann Corp. engages in the manufacture, wholesale, and retail of the 3D printed vinyl flooring panels and other decorative panels in North America, Europe, and internationally. The company offers its products under the Benchwick brand name. Northann Corp. was founded in 2013 and is based in Elk Grove, California.