Quanergy Systems (NYSE:QNGY) Trading Down 12.6%

Shares of Quanergy Systems, Inc. (NYSE:QNGYGet Rating) dropped 12.6% during mid-day trading on Thursday . The company traded as low as $0.70 and last traded at $0.70. Approximately 1,062,124 shares were traded during mid-day trading, an increase of 11% from the average daily volume of 960,543 shares. The stock had previously closed at $0.80.

The business has a 50 day simple moving average of $1.60.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. purchased a new position in shares of Quanergy Systems during the 1st quarter valued at about $1,243,000. BlackRock Inc. purchased a new position in shares of Quanergy Systems during the 1st quarter valued at about $809,000. State Street Corp purchased a new position in shares of Quanergy Systems during the 1st quarter valued at about $240,000. Northern Trust Corp purchased a new position in shares of Quanergy Systems during the 1st quarter valued at about $112,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in shares of Quanergy Systems during the 1st quarter valued at about $52,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Quanergy Systems Company Profile (NYSE:QNGY)

Quanergy Systems, Inc develops and markets light detection and ranging (LiDAR) solutions for automotive and IoT applications. The company offers M1 LiDAR sensor for mid-long range industrial measurement applications; M1 Edge 2D LiDAR sensor that enables reliable collision avoidance and smart navigation; M8 LiDAR sensor, which provides 3D perception using multiple eye-safe laser beams and time-of-flight measurement technology; MQ-8 LiDAR sensor for flow management applications; M8-Prime 3D LiDAR sensor that provides industry-leading pinpoint accuracy and captures for industrial and mapping applications; S3 solid state LiDAR sensor; QORTEX DTC, a 3D computer perception software; and QORTEX people counter enables the development of accurate and innovative people counting and queue management applications.

Read More

Receive News & Ratings for Quanergy Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanergy Systems and related companies with MarketBeat.com's FREE daily email newsletter.