Shengfeng Development Shares Set to Reverse Split on Tuesday, September 8th (NASDAQ:SFWL)

Shengfeng Development Limited (NASDAQ:SFWL) shares are going to reverse split before the market opens on Tuesday, September 8th. The 1-15 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, September 7th.

Shengfeng Development Trading Up 0.1%

Shengfeng Development stock opened at $0.89 on Friday. The business has a 50 day moving average price of $0.86 and a two-hundred day moving average price of $0.90. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. Shengfeng Development has a 12 month low of $0.56 and a 12 month high of $1.28.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Shengfeng Development from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

About Shengfeng Development

Shengfeng Development Limited, through its subsidiaries, provides contract logistics services in the People's Republic of China. The company offers business-to-business freight transportation services, such as full truckload and less than truckload; and cloud storage services, including warehouse management, order fulfillment, delivery process management, in-warehouse processing, and inventory optimization management services. It also provides value-added services comprising collection on delivery, customs declaration, delivery upstairs, packaging, pay-at-arrival, return proof of delivery, and shipment protection.