Valens Semiconductor (NYSE:VLN) Trading Up 1.9% – Time to Buy?

Valens Semiconductor Ltd. (NYSE:VLN) was up 1.9% on Monday . The company traded as high as $2.44 and last traded at $2.41. Approximately 375,899 shares were traded during trading, a decline of 49% from the average daily volume of 734,052 shares. The stock had previously closed at $2.36.

Analysts Set New Price Targets

Separately, ThinkEquity raised Valens Semiconductor to a “strong-buy” rating in a report on Monday, December 2nd.

Valens Semiconductor Stock Performance

The firm’s 50-day simple moving average is $2.48 and its 200 day simple moving average is $2.24. The company has a market cap of $255.84 million, a P/E ratio of -9.62 and a beta of 0.32.

Hedge Funds Weigh In On Valens Semiconductor

A hedge fund recently bought a new stake in Valens Semiconductor stock. ARK Investment Management LLC acquired a new position in shares of Valens Semiconductor Ltd. (NYSE:VLN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 619,309 shares of the company’s stock, valued at approximately $1,362,000. ARK Investment Management LLC owned about 0.58% of Valens Semiconductor at the end of the most recent reporting period. 33.90% of the stock is owned by institutional investors and hedge funds.

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.