Currenc Group (NASDAQ:CURR) Trading Up 1.2% – What’s Next?

Currenc Group Inc. (NASDAQ:CURR)’s stock price shot up 1.2% during mid-day trading on Friday . The company traded as high as $1.7734 and last traded at $1.75. 49,951 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 240,336 shares. The stock had previously closed at $1.73.

Analysts Set New Price Targets

CURR has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Currenc Group in a report on Monday, December 29th. Zacks Research upgraded shares of Currenc Group from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $3.50.

Currenc Group Stock Up 1.2%

The stock has a market cap of $81.43 million, a P/E ratio of -1.99 and a beta of 0.09. The business’s 50-day simple moving average is $2.33 and its two-hundred day simple moving average is $1.92.

Currenc Group (NASDAQ:CURR) last posted its earnings results on Monday, November 10th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.17. The company had revenue of $10.39 million for the quarter, compared to analysts’ expectations of $9.50 million.

Institutional Investors Weigh In On Currenc Group

An institutional investor recently bought a new position in Currenc Group stock. Two Sigma Investments LP acquired a new stake in shares of Currenc Group Inc. (NASDAQ:CURR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 59,536 shares of the company’s stock, valued at approximately $100,000. Two Sigma Investments LP owned approximately 0.13% of Currenc Group at the end of the most recent quarter. 56.01% of the stock is currently owned by institutional investors and hedge funds.

About Currenc Group

Currenc Group, Inc engages in operating a fintech banking platform. It operates through the following segments: Remittance Services, Sales of Airtime, and Other Services. The company is headquartered in Singapore.