Hong Kong Pharma Digital Technology (NASDAQ:HKPD) Stock Price Down 0.7% – Here’s Why

Hong Kong Pharma Digital Technology Holdings Limited (NASDAQ:HKPD) fell 0.7% during mid-day trading on Thursday . The stock traded as low as $0.6977 and last traded at $0.6977. 20,380 shares changed hands during trading, a decline of 68% from the average session volume of 64,043 shares. The stock had previously closed at $0.7026.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hong Kong Pharma Digital Technology in a research note on Friday, January 9th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Hong Kong Pharma Digital Technology Stock Down 0.7%

The stock has a 50-day moving average of $0.79 and a 200 day moving average of $1.06.

Institutional Trading of Hong Kong Pharma Digital Technology

A hedge fund recently bought a new stake in Hong Kong Pharma Digital Technology stock. StoneX Group Inc. purchased a new stake in Hong Kong Pharma Digital Technology Holdings Limited (NASDAQ:HKPD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 43,284 shares of the company’s stock, valued at approximately $36,000. StoneX Group Inc. owned 0.39% of Hong Kong Pharma Digital Technology as of its most recent SEC filing.

Hong Kong Pharma Digital Technology Company Profile

Hong Kong Pharma is an exempted limited liability company formed under the laws of the Cayman Islands on August 17, 2023. As a holding company with no material operations of its own, Hong Kong Pharma conducts its operations through its wholly owned subsidiaries, Joint Cross Border Logistics Company Limited and V-Alliance Technology Supplies Limited, each a limited liability corporation incorporated in Hong Kong and collectively referred to as HK Subsidiaries. Our business offering consists of two main categories: (i) OTC pharmaceutical cross-border e-commerce supply chain services, primarily conducted through our Hong Kong subsidiary, Joint Cross Border, which we refer to as the “Supply Chain Services” division and (ii) OTC pharmaceutical cross-border procurement and distribution, primarily conducted through our Hong Kong subsidiary, V-Alliance, which we refer to as the “Procurement and Distribution” division.