Lion Group (NASDAQ:LGHL) Shares Down 20.5% – Here’s Why

Lion Group Holding Ltd. Sponsored ADR (NASDAQ:LGHL) fell 20.5% during trading on Wednesday . The stock traded as low as $5.68 and last traded at $5.75. Approximately 58,593 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 303,695 shares. The stock had previously closed at $7.23.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LGHL shares. Weiss Ratings raised shares of Lion Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Tuesday, September 1st. Wall Street Zen raised shares of Lion Group to a “hold” rating in a research report on Saturday, July 18th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Lion Group Stock Performance

The stock has a 50 day simple moving average of $19.14 and a 200 day simple moving average of $105.02. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.11 and a current ratio of 4.11.

Insider Activity

In related news, major shareholder Financial Lp Hrt bought 1,717 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were acquired at an average cost of $18.80 per share, for a total transaction of $32,279.60. Following the acquisition, the insider owned 3,735 shares in the company, valued at $70,218. This represents a 85.08% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders bought 3,103 shares of company stock valued at $58,630 and sold 7,003 shares valued at $203,401. Company insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Lion Group

An institutional investor recently bought a new stake in Lion Group stock. SmartHarvest Portfolios LLC bought a new position in shares of Lion Group Holding Ltd. Sponsored ADR (NASDAQ:LGHL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 32,448 shares of the company’s stock, valued at approximately $29,000. SmartHarvest Portfolios LLC owned approximately 81.12% of Lion Group at the end of the most recent quarter. 0.17% of the stock is owned by institutional investors and hedge funds.

About Lion Group

Lion Group Holding Ltd., together with its subsidiaries, operates a trading platform for corporate clients, individual traders, and retail investors primarily in the People's Republic of China and Southeast Asia. Its trading platform offers a range of products and services comprising contracts for difference trading, over-the-counter stock options trading, futures and securities brokerage, and total return swap trading services through its Lion Brokers Pro app platform. The company's trading platform allows users to trade various futures products on futures exchanges worldwide, including the Chicago Mercantile Exchange, Singapore Exchange, the Hong Kong Futures Exchange, and Eurex Exchange; stocks listed on the New York Stock Exchange, Nasdaq and Hong Kong Stock Exchange; and the People's Republic of China stocks listed on the Shanghai Stock Exchange and Shenzhen Stock Exchange that are eligible for the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect programs.