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

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

Analyst Ratings Changes

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

Valens Semiconductor Price Performance

The firm has a market cap of $255.84 million, a price-to-earnings ratio of -9.62 and a beta of 0.32. The firm’s fifty day moving average is $2.48 and its 200-day moving average is $2.24.

Institutional Investors Weigh In On Valens Semiconductor

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

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.