Meiwu Technology (NASDAQ:WNW) Trading Down 9.6% – Here’s What Happened

Meiwu Technology Company Limited (NASDAQ:WNW) shares fell 9.6% during trading on Tuesday . The company traded as low as $3.29 and last traded at $3.29. 107,562 shares changed hands during trading, a decline of 97% from the average session volume of 3,553,646 shares. The stock had previously closed at $3.64.

Analyst Upgrades and Downgrades

A number of research firms have commented on WNW. Wall Street Zen lowered shares of Meiwu Technology to a “strong sell” rating in a report on Saturday, May 2nd. Weiss Ratings cut Meiwu Technology from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 4th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Meiwu Technology Stock Up 1.2%

The company’s 50 day moving average is $4.50 and its 200-day moving average is $96.99.

Insider Transactions at Meiwu Technology

In related news, major shareholder Financial Lp Hrt sold 9,054 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $3.66, for a total value of $33,137.64. Following the completion of the sale, the insider directly owned 13,918 shares in the company, valued at approximately $50,939.88. This trade represents a 39.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Meiwu Technology Company Profile

Wunong Net Technology Company Limited, a holding company, engages in the online retail of foods products in China. The company offers green food, organic food, intangible cultural heritage food, agricultural products, and pollution-free products. It also operates a restaurant under the Wunong Food Hall name; and engages in the wholesale of agricultural products. The company was formerly known as Advancement International Limited and changed its name to Wunong Net Technology Company Limited in August 2019.