LZ Technology Holdings Limited’s Lock-Up Period Set To End on August 26th (NASDAQ:LZMH)

LZ Technology’s (NASDAQ:LZMH) lock-up period will end on Tuesday, August 26th. LZ Technology had issued 1,800,000 shares in its initial public offering on February 27th. The total size of the offering was $7,200,000 based on an initial share price of $4.00. After the expiration of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

LZ Technology Stock Performance

Shares of LZ Technology stock opened at $3.39 on Thursday. The firm has a 50-day moving average price of $9.14. LZ Technology has a one year low of $2.35 and a one year high of $32.10.

Hedge Funds Weigh In On LZ Technology

A hedge fund recently bought a new stake in LZ Technology stock. BNP Paribas Financial Markets acquired a new position in LZ Technology Holdings Limited (NASDAQ:LZMH) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,056 shares of the company’s stock, valued at approximately $51,000.

About LZ Technology

As a holding company with no material operations of its own, LZ Technology conducts its operations through its operating entities formed in the PRC, primarily Lianzhang Portal and its subsidiaries. For the years ended December 31, 2022 and 2023, the Company had a total of 247 and 255 customers, respectively, who entered into contracts with the Company to purchase the Company’s products and services.