Fangdd Network Group (NASDAQ:DUO) Stock Price Down 6.1% – Here’s Why

Fangdd Network Group (NASDAQ:DUO)’s share price traded down 6.1% on Monday. The company traded as low as $0.5262 and last traded at $0.5262. Approximately 41,943 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 138,438 shares. The stock had previously closed at $0.5606.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Fangdd Network Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 2nd. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Fangdd Network Group has a consensus rating of “Sell”.

Fangdd Network Group Stock Down 6.1%

The business’s 50 day simple moving average is $0.61 and its 200-day simple moving average is $0.85.

Fangdd Network Group (NASDAQ:DUO) last posted its earnings results on Friday, August 28th. The company reported ($0.07) earnings per share (EPS) for the quarter. The firm had revenue of $8.52 million during the quarter.

About Fangdd Network Group

Fangdd Network Group Limited is a China-based real estate technology company that operates an online platform designed to support property transactions. The company connects real estate agents, property developers and consumers, providing tools for sharing listings, managing customer relationships and facilitating communication throughout the property-buying process.

Its products and services have included mobile applications, online property listings and software tools for real estate professionals.