XCHG (NASDAQ:XCH) Shares Down 4.9% – Here’s What Happened

XCHG Limited (NASDAQ:XCH) shares dropped 4.9% on Wednesday . The company traded as low as $1.21 and last traded at $1.18. Approximately 31,149 shares were traded during trading, a decline of 89% from the average daily volume of 285,522 shares. The stock had previously closed at $1.24.

XCHG Stock Performance

The business’s 50-day moving average price is $1.55.

XCHG (NASDAQ:XCH) last announced its quarterly earnings data on Friday, December 13th. The company reported ($0.08) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in XCHG stock. HHM Wealth Advisors LLC acquired a new position in XCHG Limited (NASDAQ:XCH) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 63,692 shares of the company’s stock, valued at approximately $129,000.

About XCHG

XCHG Limited engages in designing, manufacturing, and selling of electric vehicle (EV) chargers under the X-Charge brand name in Europe, the People’s Republic of China, and internationally. The company offers direct current (DC) fast chargers under the C6 series and C7 series; and battery-integrated DC fast chargers under the Net Zero series, as well as software system upgrades and hardware maintenance services.