Valens Semiconductor (NYSE:VLN) Stock Price Up 16.5% – Should You Buy?

Valens Semiconductor Ltd. (NYSE:VLN)’s stock price traded up 16.5% during mid-day trading on Monday . The company traded as high as $2.32 and last traded at $2.30. 1,256,290 shares traded hands during trading, an increase of 360% from the average session volume of 273,379 shares. The stock had previously closed at $1.97.

Valens Semiconductor Price Performance

The stock has a market cap of $244.14 million, a price-to-earnings ratio of -9.18 and a beta of 0.42. The business has a fifty day moving average of $1.97 and a 200 day moving average of $2.36.

Institutional Investors Weigh In On Valens Semiconductor

Hedge funds have recently bought and sold shares of the company. ARK Investment Management LLC bought a new stake in shares of Valens Semiconductor in the 3rd quarter worth approximately $1,362,000. Marshall Wace LLP boosted its holdings in shares of Valens Semiconductor by 355.5% in the 2nd quarter. Marshall Wace LLP now owns 87,461 shares of the company’s stock worth $279,000 after acquiring an additional 68,260 shares in the last quarter. Renaissance Technologies LLC increased its position in Valens Semiconductor by 23.3% in the 2nd quarter. Renaissance Technologies LLC now owns 634,300 shares of the company’s stock valued at $2,023,000 after acquiring an additional 119,900 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Valens Semiconductor in the second quarter worth about $401,000. 33.90% of the stock is currently owned by institutional investors.

About Valens Semiconductor

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.