VCI Global (NASDAQ:VCIG) Shares Down 12.6% – Here’s Why

VCI Global Limited (NASDAQ:VCIG) fell 12.6% on Wednesday . The company traded as low as $7.62 and last traded at $7.86. 621,777 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 7,927,841 shares. The stock had previously closed at $8.99.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of VCI Global in a research note on Monday, April 20th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

VCI Global Stock Down 14.1%

The stock has a fifty day moving average of $2.01 and a 200-day moving average of $22.61.

Institutional Investors Weigh In On VCI Global

An institutional investor recently bought a new position in VCI Global stock. Jane Street Group LLC bought a new position in shares of VCI Global Limited (NASDAQ:VCIG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 47,075 shares of the company’s stock, valued at approximately $25,000. Jane Street Group LLC owned approximately 0.78% of VCI Global at the end of the most recent quarter. 0.20% of the stock is currently owned by institutional investors and hedge funds.

VCI Global Company Profile

VCI Global, Inc (NASDAQ: VCIG) is a provider of outsourced receivables management and credit risk mitigation solutions for corporations, financial institutions and government agencies. The company offers end-to-end account administration services designed to streamline the order-to-cash cycle, helping clients improve cash flow, reduce days sales outstanding and mitigate credit risk across domestic and international markets.

VCI Global’s suite of services encompasses credit application processing, account setup, credit file creation, early-stage reconciliation and disputes management, cash application, and first- and third-party collections.