Leishen Energy (NASDAQ:LSE) Stock Price Down 8.5% – Here’s What Happened

Shares of Leishen Energy Holding Co., Ltd. (NASDAQ:LSE) dropped 8.5% during mid-day trading on Thursday. The company traded as low as $4.60 and last traded at $4.60. 2,878 shares traded hands during trading, a decline of 52% from the average daily volume of 5,988 shares. The stock had previously closed at $5.03.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Leishen Energy from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Leishen Energy Price Performance

The firm’s 50-day moving average price is $5.11 and its two-hundred day moving average price is $4.77.

Leishen Energy (NASDAQ:LSE) last announced its quarterly earnings results on Monday, September 14th. The company reported ($0.06) earnings per share (EPS) for the quarter. The firm had revenue of $10.49 million during the quarter.

About Leishen Energy

Leishen Energy is an energy equipment company based in China. The company focuses on the research, development, manufacturing and sale of equipment used in oil and natural gas exploration, drilling, production and related field operations.

Its product offerings include oilfield and well-control equipment, drilling and production systems, and other equipment used by energy companies and oilfield-service providers. Leishen Energy also provides related technical and engineering services intended to support the deployment and operation of its equipment.

The company serves customers primarily in China and may support energy projects in other markets through its equipment and services.