Luokung Technology (NASDAQ:LKCO) Shares Down 7.9% – What’s Next?

Luokung Technology Corp. (NASDAQ:LKCO)’s stock price was down 7.9% during mid-day trading on Wednesday . The company traded as low as $1.63 and last traded at $1.70. Approximately 83,003 shares were traded during trading, an increase of 164% from the average daily volume of 31,453 shares. The stock had previously closed at $1.84.

Luokung Technology Stock Performance

The stock has a 50-day simple moving average of $1.85 and a 200-day simple moving average of $2.65.

Institutional Trading of Luokung Technology

An institutional investor recently bought a new position in Luokung Technology stock. Citadel Advisors LLC bought a new position in shares of Luokung Technology Corp. (NASDAQ:LKCO) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 37,691 shares of the company’s stock, valued at approximately $69,000. Citadel Advisors LLC owned 0.55% of Luokung Technology as of its most recent SEC filing. Institutional investors and hedge funds own 14.62% of the company’s stock.

Luokung Technology Company Profile

Luokung Technology Corp., together with its subsidiaries, engages in the provision of location-based services and mobile application products for long distance rail travelers in the People’s Republic of China. It offers Luokuang mobile application, which provides business to customer (B2C) location-based services; and SuperEngine that offers business to business (B2B) and business to government (B2G) services in connection with spatial-temporal big data processing.