Planet Green (NYSE:PLAG) Trading Up 8.9% – Still a Buy?

Planet Green Holdings Corp. (NYSE:PLAG) was up 8.9% during mid-day trading on Thursday . The company traded as high as $2.36 and last traded at $2.07. Approximately 301,384 shares traded hands during mid-day trading, an increase of 1,781% from the average daily volume of 16,024 shares. The stock had previously closed at $1.90.

Planet Green Stock Performance

The business has a fifty day simple moving average of $2.34 and a two-hundred day simple moving average of $2.24. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.59 and a quick ratio of 0.53. The company has a market cap of $15.08 million, a PE ratio of -5.45 and a beta of -0.61.

Institutional Investors Weigh In On Planet Green

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLAG. Garden State Investment Advisory Services LLC purchased a new stake in shares of Planet Green during the 3rd quarter worth about $53,000. Renaissance Technologies LLC acquired a new stake in Planet Green in the 4th quarter valued at about $46,000. Two Sigma Securities LLC acquired a new stake in Planet Green in the 4th quarter valued at about $99,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Planet Green during the 4th quarter worth approximately $63,000. 0.28% of the stock is owned by institutional investors and hedge funds.

Planet Green Company Profile

Planet Green Holdings Corp., through its subsidiaries, engages in the production and distribution of brick, black, and green tea products in China and internationally. It also imports and distributes beef and mutton products; manufactures and sells ethanol fuel and fuel additives, including alcohol based clean fuel, liquid wax, arene, and biomass fuel; and produces formaldehyde, urea formaldehyde adhesive, and methylal products, as well as vehicles gasoline and diesel products.