Shares of LMP Automotive Holdings, Inc. (NASDAQ:LMPX – Get Rating) were up 0.9% during trading on Wednesday . The company traded as high as $8.48 and last traded at $8.48. Approximately 8,028 shares were traded  during mid-day trading, a decline of 84% from the average daily volume of 51,576 shares. The stock had previously closed at $8.40.

LMP Automotive Trading Up 0.9 %

The company has a market capitalization of $92.45 million, a price-to-earnings ratio of -8.00 and a beta of 1.24. The business's 50 day moving average price is $8.69 and its two-hundred day moving average price is $7.10.

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Institutional Trading of LMP Automotive

A hedge fund recently raised its stake in LMP Automotive stock. Bank of New York Mellon Corp grew its position in  LMP Automotive Holdings, Inc. (NASDAQ:LMPX – Get Rating) by 10.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 26,484 shares of the company's stock after acquiring an additional 2,397 shares during the period. Bank of New York Mellon Corp owned 0.24% of LMP Automotive worth $132,000 as of its most recent filing with the SEC. 6.72% of the stock is owned by hedge funds and other institutional investors.

About LMP Automotive

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LMP Automotive Holdings, Inc, through its subsidiaries, buys, sells, rents and subscribes for, and obtains financing for automobiles online and in person in the United States. It primarily buys pre-owned automobiles primarily through auctions or directly from other automobile dealers, as well as new automobiles from manufacturers and manufacturer distributors at fleet rates.

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