Metalpha Technology (NASDAQ:MATH) Trading 2.6% Higher – Here’s What Happened

Shares of Metalpha Technology Holding Limited (NASDAQ:MATH) traded up 2.6% during mid-day trading on Thursday . The company traded as high as $1.02 and last traded at $0.9840. 129,107 shares were traded during mid-day trading, an increase of 4% from the average session volume of 124,592 shares. The stock had previously closed at $0.9591.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Metalpha Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Metalpha Technology Stock Performance

The firm has a 50-day moving average price of $1.13 and a 200 day moving average price of $1.87.

Metalpha Technology (NASDAQ:MATH) last released its quarterly earnings results on Friday, February 20th. The company reported ($0.04) EPS for the quarter. The firm had revenue of $12.02 million during the quarter.

Institutional Trading of Metalpha Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its stake in Metalpha Technology by 42.2% in the first quarter. Goldman Sachs Group Inc. now owns 20,346 shares of the company’s stock valued at $35,000 after buying an additional 6,040 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Metalpha Technology in the first quarter valued at $53,000. HRT Financial LP raised its stake in Metalpha Technology by 242.0% in the fourth quarter. HRT Financial LP now owns 35,763 shares of the company’s stock valued at $75,000 after buying an additional 25,305 shares in the last quarter. Finally, Geode Capital Management LLC acquired a new stake in Metalpha Technology in the second quarter valued at $100,000. 30.53% of the stock is currently owned by institutional investors and hedge funds.

Metalpha Technology Company Profile

Metalpha Technology Holding Limited, together with its subsidiaries, provides wealth management services in Hong Kong. The company offers digital asset-based wealth management services, which include issuing traditional financial and cryptocurrency derivative products to over-the-counter clients, providing crypto derivative market making services, and proprietary trading of digital assets and crypto derivative products; and securities advising and asset management services. It serves institutional investors and high-net-worth individuals.