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

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

Wall Street Analysts Forecast Growth

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

Lion Group Trading Down 20.5%

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

Insider Buying and Selling at Lion Group

In related news, major shareholder Financial Lp Hrt purchased 1,717 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was acquired at an average price of $18.80 per share, for a total transaction of $32,279.60. Following the completion of the purchase, the insider owned 3,735 shares in the company, valued at approximately $70,218. This represents a 85.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have purchased 3,103 shares of company stock worth $58,630 and have sold 7,003 shares worth $203,401. Insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

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

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.