Wing Yip Food Holdings Group (NASDAQ:WYHG) Trading Down 11.6% – Here’s What Happened

Wing Yip Food Holdings Group Limited – Sponsored ADR (NASDAQ:WYHG) shares dropped 11.6% during mid-day trading on Wednesday . The stock traded as low as $6.30 and last traded at $6.53. Approximately 662,257 shares traded hands during trading, a decline of 84% from the average daily volume of 4,136,166 shares. The stock had previously closed at $7.39.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Wing Yip Food Holdings Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Wing Yip Food Holdings Group Price Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.42 and a current ratio of 4.77. The stock has a 50-day moving average price of $4.46 and a 200 day moving average price of $3.04.

Wing Yip Food Holdings Group (NASDAQ:WYHG) last released its earnings results on Thursday, May 14th. The company reported ($0.80) earnings per share for the quarter. The company had revenue of $32.97 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Centiva Capital LP acquired a new stake in shares of Wing Yip Food Holdings Group in the 3rd quarter valued at $37,000. Virtu Financial LLC acquired a new position in shares of Wing Yip Food Holdings Group during the third quarter worth $38,000. Citadel Advisors LLC acquired a new position in shares of Wing Yip Food Holdings Group during the third quarter worth $46,000. Renaissance Technologies LLC increased its holdings in Wing Yip Food Holdings Group by 296.1% in the fourth quarter. Renaissance Technologies LLC now owns 60,200 shares of the company’s stock valued at $33,000 after buying an additional 45,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Wing Yip Food Holdings Group by 73.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 137,500 shares of the company’s stock valued at $76,000 after buying an additional 58,045 shares during the last quarter.

About Wing Yip Food Holdings Group

Wing Yip Food Holdings Group (NASDAQ:WYHG) is a specialist retailer and distributor of Asian food products, operating a network of hypermarkets, wholesale warehouses and online channels. The company’s core business encompasses the sourcing, importation and sale of a broad assortment of groceries from China, Southeast Asia and other regions, including fresh produce, frozen seafood, rice, noodles, sauces, spices and specialty ingredients.

Through its flagship hypermarkets in key metropolitan areas of the United Kingdom, Wing Yip provides both retail customers and foodservice operators with access to a comprehensive range of Asian culinary products.