Shengfeng Development (NASDAQ:SFWL) Stock Falls 6.8% – Should You Sell?

Shengfeng Development Limited (NASDAQ:SFWL) fell 6.8% during trading on Thursday. The company traded as low as $8.15 and last traded at $7.9250. Approximately 509 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 2,625 shares. The stock had previously closed at $8.50.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Shengfeng Development from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 25th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Shengfeng Development Trading Down 15.9%

The firm’s 50-day moving average price is $10.59 and its 200-day moving average price is $12.44.

Shengfeng Development (NASDAQ:SFWL) last announced its quarterly earnings results on Tuesday, September 15th. The company reported $0.59 earnings per share (EPS) for the quarter. The company had revenue of $155.89 million during the quarter.

About Shengfeng Development

Shengfeng Development Limited (NASDAQ:SFWL) is a China-based logistics and supply chain services company. Through its operating subsidiaries, the company provides transportation, warehousing, distribution and related logistics solutions for businesses across China.

Its services include less-than-truckload and full-truckload transportation, freight forwarding, warehouse management, delivery and other value-added supply chain services. Shengfeng serves customers with logistics requirements associated with manufacturing, retail, e-commerce and other commercial activities, coordinating the movement and storage of goods through its logistics network.

The company was established in China and is headquartered in Fuzhou, Fujian Province.