Nature’s Miracle (NASDAQ:NMHI) Shares Down 3.6% – Here’s Why

Nature’s Miracle Holding Inc. (NASDAQ:NMHI) shares dropped 3.6% during mid-day trading on Wednesday . The stock traded as low as $0.16 and last traded at $0.16. Approximately 216,432 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 1,284,160 shares. The stock had previously closed at $0.17.

Nature’s Miracle Trading Down 6.2 %

The stock’s 50 day simple moving average is $0.16 and its 200 day simple moving average is $0.46.

Nature’s Miracle (NASDAQ:NMHI) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.07) EPS for the quarter. The firm had revenue of $3.41 million for the quarter.

Hedge Funds Weigh In On Nature’s Miracle

A hedge fund recently bought a new stake in Nature’s Miracle stock. MMCAP International Inc. SPC purchased a new position in shares of Nature’s Miracle Holding Inc. (NASDAQ:NMHI) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 45,000 shares of the company’s stock, valued at approximately $42,000. MMCAP International Inc. SPC owned 0.17% of Nature’s Miracle at the end of the most recent quarter. 94.56% of the stock is owned by institutional investors and hedge funds.

About Nature’s Miracle

Nature’s Miracle Holding Inc, an agriculture technology company, provides lighting and grow media products to growers in the controlled environment agriculture industry in the United States and Canada. The company offers LED fixtures; high pressure sodium and ceramic metal halide fixtures; and electronic ballasts and control boxes.