Valens Semiconductor (NYSE:VLN) Trading Up 5.2% – Here’s What Happened

Valens Semiconductor Ltd. (NYSE:VLN)’s stock price rose 5.2% on Wednesday . The company traded as high as $2.02 and last traded at $2.02. Approximately 184,305 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 304,610 shares. The stock had previously closed at $1.92.

Wall Street Analysts Forecast Growth

Separately, ThinkEquity upgraded shares of Valens Semiconductor to a “strong-buy” rating in a report on Monday, December 2nd.

Valens Semiconductor Trading Up 0.5 %

The firm has a 50 day simple moving average of $1.95 and a 200 day simple moving average of $2.28. The firm has a market capitalization of $215.95 million, a PE ratio of -8.12 and a beta of 0.45.

Institutional Trading of Valens Semiconductor

A number of large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in Valens Semiconductor in the second quarter worth approximately $401,000. Renaissance Technologies LLC raised its stake in Valens Semiconductor by 23.3% during the 2nd quarter. Renaissance Technologies LLC now owns 634,300 shares of the company’s stock valued at $2,023,000 after buying an additional 119,900 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Valens Semiconductor by 355.5% during the 2nd quarter. Marshall Wace LLP now owns 87,461 shares of the company’s stock valued at $279,000 after buying an additional 68,260 shares during the period. Finally, ARK Investment Management LLC purchased a new position in shares of Valens Semiconductor in the 3rd quarter worth $1,362,000. 33.90% of the stock is currently owned by institutional investors.

Valens Semiconductor Company Profile

Valens Semiconductor Ltd. engages in the provision of semiconductor products for the audio-video and automotive industries. The company offers HDBaseT technology, which enables the simultaneous delivery of ultra-high-definition digital video and audio, Ethernet, USB, control signals, and power through a single long-reach cable.